La vendita allo scoperto per Meituan dà agli investitori un'idea del grado in cui gli investitori stanno scommettendo sul declino delle azioni di Meituan. I dati relativi alle vendite allo scoperto vengono aggiornati ogni due settimane.

Meituan (OTC:MPNGY) Azioni, Report sulle vendite allo scoperto

Meituan is the largest food delivery service in China, with a 70.7% share of the market in 2020 per the Chinese government. For the year ended 2023, the firm generated 58% of revenue from on-demand services, 17% from hotel booking, coupon sales, advertising, and 25% from new initiatives. In the long term, its new initiatives business may transform the company into an all-encompassing grocer and logistics business involving community group buying, nonfood delivery, and online grocery, overtaking food delivery as its main business.

Meituan

WIIM

Toyota Motor shares are trading lower after the company announced the delay of EV production in North America due to slowing sales.

Congratulations on reaching the coveted $1 million retirement savings milestone! You&#8217;re among an <a href="https://www.benzinga.com/personal-finance/24/09/41075540/is-your-401-k-balance-above-average-find-out-if-youre-beating-most-savers">elite group of savers</a>.&nbsp;
According to data from the Employee Benefit Research Institute (EBRI), only about <a href="https://www.benzinga.com/personal-finance/24/06/39142377/what-percentage-of-people-retire-with-a-1-million-nest-egg-its-far-less-than-youd-expect">3.2% of Americans have $1 million</a> or more in their retirement accounts.
Now that you&#8217;ve achieved this impressive goal, the crucial question is: How much can you spend each year without depleting your savings?
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<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
<li>Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a></li>
</ul>
The 4% Rule
Traditionally, financial planners have recommended the 4% rule. This rule suggests withdrawing 4% of your initial balance in the first year of retirement and adjusting that amount for inflation in subsequent years.
For a $1 million portfolio, this would mean:
<ul>
<li>First-year withdrawal: $40,000</li>
<li>Assuming 2% annual inflation, second-year withdrawal: $40,800</li>
</ul>
However, given current economic conditions, some experts now consider this rule outdated.
Trending: Founder of Personal Capital and ex-CEO of PayPal<a href="https://www.benzinga.com/money/evergreen-money"> re-engineers traditional banking with this new high-yield account — start saving better today.</a>
Conservative 3.3% Approach
A 2021 study by Morningstar suggested a more conservative 3.3% initial withdrawal rate for those hoping to sustain their portfolio for 30 years.&nbsp;
For a $1 million portfolio, this would mean:
<ul>
<li>First-year withdrawal: $33,000</li>
<li>With a 2% inflation rate, the second-year withdrawal would be approximately $33,660.</li>
</ul>
However, as of 2023, Morningstar has revised its recommendation. Their latest research suggests that retirees can safely withdraw 4.0% of their portfolio with a 90% chance of still having funds after 30 years. This update is primarily due to stronger bond yields and lower projected inflation than earlier estimates.
Trending: <a href="https://www.benzinga.com/money/irs-finalizes-10-year-rule-adv">IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making Things &#8216;Even More Insanely Complicated&#8217;</a>
Retirees can start with this slightly higher rate without risking their long-term financial security in a balanced portfolio with 20% to 40% in equities and the rest in bonds and cash.
Morningstar notes that more flexible withdrawal strategies – such as adjusting based on portfolio performance – could even allow for higher withdrawal rates (up to 5.2%) under certain conditions. But these come with trade-offs, including potentially smaller ending balances after 30 years.
Trending: Beating the market through ethical real estate investing' — t<a href="https://www.benzinga.com/money/invest-with-roots">his platform aims to give tenants equity in the homes they live in while scoring 17.17% average annual returns for investors – here&#8217;s how to join with just $100</a>
The Debate: 3.3% vs. 4.0%
Some financial experts, like Suze Orman, still <a href="https://www.benzinga.com/personal-finance/24/05/38618728/suze-orman-calls-the-4-retirement-rule-very-dangerous-in-todays-challenging-economic-climate">advocate for more conservative withdrawal rates</a>. Orman recommends that retirees err on the side of caution, as unexpected life events, market downturns, or personal emergencies can strain savings. For those who prioritize financial security over risk, sticking to a 3.3% rate may provide more peace of mind, especially if they have a lower risk tolerance or prefer to leave a legacy behind.
Spending For A 20-Year Retirement
Your expected retirement duration significantly impacts how much you can safely withdraw. Research from Western Carolina University suggests that for a 20-year retirement, initial withdrawal rates between 5.8% and 6.3% may be appropriate for moderately conservative portfolios.&nbsp;
For a $1 million portfolio over 20 years, this could mean:
<ul>
<li>Annual withdrawal: $58,000 to $63,000</li>
</ul>
Trending: These five entrepreneurs are worth $223 billion –<a href="https://www.benzinga.com/money/arrived-homes-private-credit-fund"> they all believe in one platform that offers a 7-9% target yield with monthly dividends</a>
Putting Your Retirement Plan Into Action
Having $1 million saved for retirement gives you a great foundation, but planning is key to making it last. The important thing is to review your strategy regularly and make adjustments as needed.
It's always a good idea to<a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved"> talk to a financial advisor</a> to tailor a plan that fits your goals. Ultimately, retirement is about enjoying your savings while ensuring you have enough to maintain your lifestyle and security for the long run.
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<li>If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends<a href="https://www.benzinga.com/money/arrived-private-credit-fund"> would you invest in it</a>?</li>
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Personal Finance

I Have A $1 Million Nest Egg For Retirement – How Much Can I Safely Spend Each Year To Avoid Running Out Of Money?

FANG

Diamondback Energy shares are trading higher after Benchmark maintained a Buy rating on the stock and raised its price target from $154 to $195.

Groupon, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grpn#NASDAQ">GRPN</a>) has seen its stock decline 25.2% year to date (YTD) against the Zacks Internet-Commerce industry&#39;s growth of 22.9%, the broader retail sector&#39;s return of 19.4% and the S&amp;P 500 index&#39;s rally of 20%.
GRPN, which has emerged as a two-sided global marketplace company, has been suffering from its weakening momentum in the international market. Unexpected site stability issues related to its cloud migration project have also been heavily affecting the company&#39;s performance.
Groupon&#39;s business model makes it heavily dependent on daily deals, which is a major headwind. Since most of the offerings are consumer discretionary products, demand is heavily dependent on macroeconomic conditions. Given this, the ongoing market uncertainties, persistent inflation, looming recessionary fears, changing consumer demand and spending patterns are dampening the company&#39;s near-term prospects.
<h2>Year-to-Date Price Performance</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/40/80256.jpg?v=610392595" style="border-style:solid; border-width:1px" />
Image Source: Zacks Investment Research
GRPN&#39;s bearish guidance is a negative. For 2024, the company expects revenues between $495 million and $515 million, indicating a year-over-year change between (4%) and 0%. The Zacks Consensus Estimates for 2024 revenues is pegged at $514.51 million, implying a year-over-year decline of 0.1%.
The company operates in a highly competitive market, wherein it faces significant competition from the likes of Yelp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yelp#NYSE">YELP</a>), Rakuten, Travelzoo (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tzoo#NASDAQ">TZOO</a>) and Wowcher.
Groupon&#39;s solid momentum in its marketplace platform and strength in its e-commerce business model are major positives. Its large-scale global operations and growing relationship with third-party merchants reflect the company&#39;s upside potential, which bodes well for its long-term prospects.
Given the YTD dip in GRPN shares, investors are questioning whether this is the right time to buy the stock. Let us explore this in more detail.
<h2>E-commerce Strategies to Drive GRPN&#39;s Prospects</h2>
Groupon, through its e-commerce platform, offers numerous deals that can be accessed by users anywhere at any time.
GRPN&#39;s strategy to build a trusted marketplace, wherein customers purchase local services and experiences, is a major positive. For this, the company&#39;s growing efforts to build long-term relationships with local merchants to strengthen its inventory selection remain noteworthy.
It strives to deliver enhanced customer experience through inventory curation and improved convenience in order to boost purchase frequency on its platform.
To strengthen the platform, the company is lifting restrictions on its deeply discounted deals and is enabling customers to purchase such deals more than once to improve the frequency and drive growth in billings.
Growing momentum across the North America region has been driving growth in the company&#39;s Local segment, which contributes the most to GRPN&#39;s total revenues and remains crucial for its e-commerce business. In second-quarter 2024, Local revenues were $114.1 million (92% of total revenues), driven by North America Local revenues, which grew 7.3% year over year.
Groupon&#39;s long-term prospects rest upon its ability to offer more innovative products and build a broader Local e-commerce platform.&nbsp;
The company&#39;s strengthening supply drivers for North America Local are tailwinds. Groupon is witnessing growing traction among large enterprise merchants, thanks to expanding 
relationships with existing partners, and the addition of brands to the platform.
GRPN&#39;s initiatives to remove lower-quality deals from its site that do not align with the brand promise are a plus. Groupon also made substantial progress in curating its deals, with an enhanced presentation, improved deal copy and better images.
Solid demand for family-friendly activities, ranging from trampoline parks and bowling alleys to amusement parks and water parks, is another positive. The company expects to see continued growth in these areas in the days ahead.
Growing momentum in Groupon&#39;s latest initiative called Flash Sale, which was tested first in first-quarter 2024 with one enterprise merchant, is noteworthy. The Flash Sale concept boosted its performance and, hence, the company expanded this program in second-quarter 2024, running over a dozen flash sales with existing merchants to drive performance and boost engagement on its site. Although the initiative is fresh and new, it reflects the company&#39;s potential to expand its business by developing products to cross-sell and up-sell into its supply base.
Groupon&#39;s AI initiative is a major plus. AI integration has enabled it to improve the copywriting of its deals and deal creation process. It leverages AI on projects in product and engineering to improve deal recommendation and quality assurance. Improvements in enterprise sales organization and process changes, combined with value proposition changes, continue to contribute to growth in its enterprise accounts.
<h2>Upward Earnings Trend Paints Bright Picture for GRPN</h2>
Investors are turning bullish about Groupon&#39;s upside potential, which is reflected in the upward revisions in earnings estimates.
For 2024, the Zacks Consensus Estimate for earnings is pegged at 47 cents per share, whereas the company reported a 2023 loss of 52 cents. The estimate has been revised upward by 56.7% over the past 60 days.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/fa/80258.jpg?v=1264508241" style="border-style:solid; border-width:1px" />
Image Source: Zacks Investment Research
<h2>Attractive Valuation: A Silver Lining for GRPN</h2>
Groupon is currently trading at a discount with a forward 12-month Price/Sales of 0.7X compared with the industry&#39;s 1.72X and lower than the median of 0.84X. This indicates an excellent opportunity for investors.
GRPN also has a Value Score of B, which is hard to ignore.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/56/80257.jpg?v=1027816364" style="border-style:solid; border-width:1px" />
Image Source: Zacks Investment Research
<h2>Conclusion</h2>
Despite near-term hurdles, Groupon&#39;s strong marketplace, robust e-commerce business model, growing merchants base and solid supply drivers present a solid investment opportunity for growth-seeking investors.
Its attractive valuation and Growth Score of A make a compelling case for buying the GRPN stock at its current levels.
Groupon sports a Zacks Rank #1 (Strong Buy) at present.
<a href="https://www.zacks.com/stock/news/2345645/groupon-shares-decline-25-2-ytd-should-you-buy-the-dip-right-now?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2345645">To read this article on Zacks.com click here.</a>

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YELP

Groupon Shares Decline 25.2% YTD: Should You Buy the Dip Right Now?

Texas Attorney General Ken Paxton has filed a lawsuit against several major insulin manufacturers and pharmacy benefit managers (PBMs), alleging a conspiracy to <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40560002/governments-suing-pharmacy-benefit-managers-over-insulin-prices-have-long-benefited-from-their-r" rel="noreferrer noopener">inflate insulin prices</a>.
The <a target="_blank" href="https://www.texasattorneygeneral.gov/news/releases/attorney-general-ken-paxton-sues-big-pharma-drug-manufacturers-and-pharmacy-benefit-managers" rel="noreferrer noopener">lawsuit</a> targets pharmaceutical companies such as Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) and PBMs, including Cigna Corp's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) Express Scripts and CVS Health Inc's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) CVS Pharmacy, accusing them of engaging in an unlawful scheme to raise insulin prices.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40964870/us-federal-trade-commission-sues-cvs-health-cigna-unitedhealths-pharmacy-benefit-managers-for-infl" rel="noreferrer noopener">US Federal Trade Commission Sues CVS Health, Cigna, UnitedHealth's Pharmacy Benefit Managers For Inflating Insulin Prices</a>.
According to the lawsuit, insulin manufacturers artificially raised the prices of their drugs while paying PBMs a significant, undisclosed portion in return for preferred placement in PBM offerings.
The PBMs allegedly rewarded the manufacturers with the highest list prices by giving their products preferred status while excluding more affordable alternatives.
These insulin drugs, which cost manufacturers less than $2 to produce, were introduced in the late 1990s at $20 per vial. However, prices have now soared to between $300 and $700 per vial.
Over the past decade, some manufacturers have raised insulin prices by as much as 1,000%.
Paxton expressed outrage over the alleged scheme, stating, "This is a disturbing conspiracy by which pharmaceutical companies were intentionally and artificially inflating the price of insulin. Big Pharma insulin manufacturers and PBMs worked together to take advantage of diabetes patients and drive prices as high as they could." He vowed to hold these companies accountable for their actions.
The complaint further claims that while PBMs have publicly positioned themselves as entities working to reduce drug prices and improve treatment access, their actions tell a different story.
The lawsuit argues that the PBMs have colluded with insulin manufacturers to manipulate the market for their financial gain, all at the expense of Texas diabetics and healthcare payors.
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Photo by towfiqu barbhuiya via unsplash

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Texas Attorney General Sues Insulin Manufacturers and Pharmacy Benefit Managers Over Price-Fixing Conspiracy That Increased Prices by 1,000%

Deutsche Bank analyst Scott Deuschle maintains Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) with a Buy, raising the <a target="_blank" href="https://www.benzinga.com/quote/LMT/analyst-ratings" rel="noreferrer noopener">price forecast from&nbsp;$600&nbsp;to&nbsp;$620.</a>
The analyst suggests that Lockheed Martin likely prefunds its pension in the fourth quarter, although the company may delay a formal announcement until after it&#8217;s completed.
Deuschle adds that the associated debt issuance for this funding is expected to occur sooner.
The analyst forecasts third-quarter EPS of $6.70, approximately 4% above the Street&#8217;s estimate of $6.47.
Deuschle sees revenue of around $17.4 billion, which is $100 million below the Street&#8217;s expectation, as the analyst incorporates the $500 million F-35 contract delay impact at Aeronautics, which is not fully reflected in the Street&#8217;s projections.
The analyst identifies the greatest upside potential in Space, noting that underlying margins excluding United Launch Alliance (ULA)&nbsp;are expected to decline significantly in the second half.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/41012117/lockheed-martins-unit-secures-contract-for-ch-53k-gearbox-assemblies" rel="noreferrer noopener">Lockheed Martin&#8217;s Unit Secures Contract for CH-53K Gearbox Assemblies</a>
This outlook seems conservative, considering that two major contracts—Orion and OPIR—are entering a highly mature phase of their production lifecycle.
The analyst projects a third-quarter revenue beat, which may lead to an upward revision of the full-year revenue guidance, potentially nearing $72 billion.
Deuschle also sees a 1%-2% increase to the midpoint of the full-year segment EBIT guidance, especially if EBIT upside is realized in Space during the third quarter, as seen in the first half.
The analyst sees the company offer some indication for 2025 financial trends.
Given the firm&#8217;s conservative track record, the analyst sees the company is likely to project approximately 3% revenue growth and reiterates its target for 10-20 basis points of margin expansion.
Deuschle also projects a dividend increase announcement ahead of earnings, and the buyback authorization will likely be topped up.
Price Action: LMT shares are trading lower by 0.29% to $601.79 at last check Thursday.
Photo via Shutterstock
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<li><a href="https://www.benzinga.com/general/education/24/10/41166723/how-many-evs-has-tesla-delivered-produced-each-quarter-a-look-at-the-results-since-2019" target="_blank" rel="noreferrer noopener">How Many EVs Has Tesla Delivered, Produced Each Quarter? A Look At The Results Since 2019</a></li>
</ul>

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Price Target

Reiteration

Lockheed Martin's Greatest Upside Potential Is In Space: Analyst Sees Dividend Hikes, Buyback Top Ups

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is gearing up for a $783 million debt sale, coinciding with a busy October that features the highly <a href="https://www.benzinga.com/news/24/09/40808924/tesla-robotaxi-event-to-be-held-in-los-angeles-on-1010-says-senior-company-exec-existing-shareholder">anticipated Robotaxi Day.</a>
What Happened: Tesla, which recently<a href="https://www.benzinga.com/news/24/10/41141444/tesla-stock-plunges-3-despite-q3-deliveries-exceeding-consensus-and-growing-year-over-year"> reported third-quarter delivery</a> and production figures, could price its debt sale as early as next week.
The debt sale, which is being run by Societe Generale, would see Tesla provide the backing of prime borrowers' car leases, as reported by <a href="https://www.bloomberg.com/news/articles/2024-10-03/tesla-plans-783-million-debt-sale-backed-by-prime-leases?srnd=homepage-americas&amp;sref=TBDibEcD">Bloomberg</a>.
According to the report, this would mark Tesla&#8217;s second financing this year. Tesla raised $750 million in March.
By leveraging its car leases, Tesla would join other automakers in using asset-backed securities as a tool to finance future growth.
Tesla has previously used asset-backed securities for funding, but not as much as its U.S. automotive rivals, the report said.
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</ul>
 What's Next: The financing news follows Tesla&#8217;s third-quarter delivery figures and comes ahead of several key October catalysts, which could lead to significant volatility in the company&#8217;s stock.
Tesla will host its Robotaxi Day on Oct. 10 and report third-quarter financial results on Oct. 23, which mark two of the biggest company events in the last three months of the calendar year.
The company will<a href="https://www.benzinga.com/news/24/09/41027049/tesla-returns-to-paris-motor-show-for-first-time-in-6-years-cybertruck-to-be-featured-will-elon-musk"> also exhibit multiple models</a>, including the Cybertruck, at the Paris Auto Show from Oct. 14 to Oct. 20. This marks Tesla's first appearance at the auto show in six years.
TSLA Price Action: Tesla stock was down 4% to $238.26 on Thursday, compared to a 52-week trading range of $138.80 to $271.00. It is down 4.1% year-to-date in 2024.
Read Next: 
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<li><a href="https://www.benzinga.com/general/education/24/10/41166723/how-many-evs-has-tesla-delivered-produced-each-quarter-a-look-at-the-results-since-2019">How Many EVs Has Tesla Delivered, Produced Each Quarter? A Look At The Results Since 2019</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

TSLA

Tesla Uses Auto Leases To Back $783M Debt Sale: Report

FFWM

First Foundation shares are trading higher after the company announced it will be reclassifying $1.9 billion from its multifamily portfolio from loans held to maturity to loans held for sale.

Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) owned streaming platform AppleTV+ is one of the smaller players in<a href="https://www.benzinga.com/topic/streaming"> the streaming market.</a>
When it comes to star power, Apple has landed some big names. A movie with two of the biggest actors around could help boost the future outlook.
What Happened: With ballooning budgets and tough decisions on whether to play movies in cinemas, and then stream them on AppleTV+, the technology giant recently announced it would <a href="https://www.benzinga.com/news/24/09/41073117/apples-reviews-strategy-cuts-film-budgets-after-blockbuster-spend-whats-next-for-apple-tv">scale back movie budgets.</a>
That decision comes after Apple recently debuted "Wolfs" in a limited theatrical release ahead of its Sept. 27 streaming premiere on AppleTV+.
While most films starring George Clooney and Brad Pitt, would command a premium budget and likely see a strong box office run, the "Wolfs" stars have denied getting a reported $35 million each and said they were paid less for the film
After originally planning on releasing the movie widely in movie theaters, Apple made the decision to switch to a limited run ahead of the streaming premiere.
The decision may have paid off with Apple saying "Wolfs" is now the most viewed movie in AppleTV+ history, without providing a specific figure.
"Wolfs" helped boost viewership on AppleTV+ by 30% week-over-week after the movie's premiere according to a report from <a href="https://deadline.com/2024/10/george-clooney-brad-pitt-wolfs-most-viewed-movie-in-apple-tv-history-1236105000/">Deadline</a>.
The film, which premiered at the Venice Film Festival, has already been green lit for a sequel by Apple, with the film's writer and director Jon Watts returning.
"When George, Brad and Jon approached us with the idea for ‘Wolfs,' it was an easy call – a crackling, fun movie starring two Oscar winners who everyone knows are iconic together," Apple Original Films' head of features Matt Dentler said.
Dentler said AppleTV+ could be the "home for the world's most talented artists to create and deliver their best work" and the audience viewership has been existing.
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Why It Matters: Apple TV+ was launched on Nov. 1, 2019. It marked Apple&#8217;s entry into the competitive streaming market, which is <a href="https://www.benzinga.com/news/24/04/38337256/netflix-once-again-evolved-and-eclipsed-its-streaming-war-rivals">dominated by </a>Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).
While the decision not to run the movie in theaters may have been tough for Apple and left money on the table, it likely means a boost to streaming viewership figures and potentially an uptick in subscriber.
Apple has <a href="https://www.benzinga.com/24/03/37558754/apples-1b-gamble-on-3-blockbusters-analyzing-box-office-results-streaming-impact-and-oscar-nominatio">seen recent success </a>at the Academy Awards with "CODA," which won a historic Oscar for Best Picture at the 94th Academy Awards. 
Other Apple-produced movies also saw theatrical releases. They include:
<ul>
<li>&#8220;<a href="https://www.boxofficemojo.com/title/tt5537002/?ref_=bo_se_r_1" target="_blank" rel="noreferrer noopener">Killers of the Flowers Moon</a>&#8220;: $67.9 million domestic, $89 million international, $156.9 million global</li>
<li>&#8220;<a href="https://www.boxofficemojo.com/title/tt13287846/?ref_=bo_se_r_1" target="_blank" rel="noreferrer noopener">Napoleon</a>&#8220;: $61.5 million domestic, $159.5 million international, $221 million global</li>
<li>&#8220;<a href="https://www.boxofficemojo.com/title/tt15009428/?ref_=bo_se_r_1" target="_blank" rel="noreferrer noopener">Argylle</a>&#8220;: $44.2 million domestic, $48.2 million international, $92.5 million global</li>
</ul>
In total, the three movies cost around $700 million for Apple and grossed $470.4 million worldwide, according to BoxOfficeMojo.
While the box office figures didn't break even on costs, a studio source told Variety that both "Killers of the Flower Moon" and "Napoleon" were profitable thanks to other revenue streams.
Netflix, in contrast, rarely uses the theater distribution model for its films. But Apple has adopted a strategy of premiering its major films in theaters before offering them exclusively on its streaming platform, Apple TV+.
This model helps Apple recover some of its costs and could also help the company be a staple for award shows that require a theatrical run.
Apple finds itself in a difficult place with the need to spend more on content to boost subscribers, but also having less to spend on movies and content due to a smaller subscriber base. With the parent company a cash cow, Apple may be able to maintain losses for its streaming business if it chooses to, but could also push for a larger focus on profits.
Reports say Apple is considering<a href="https://www.benzinga.com/general/entertainment/24/07/40014040/apple-to-follow-netflix-disney-ad-supported-appletv-streaming-plan-could-launch-soon"> launching an ad-supported </a>streaming plan soon, which could help alleviate some of the revenue concerns and bring in more money to be spent on content.
The company&nbsp;<a href="https://www.benzinga.com/news/23/06/32764885/lionel-messi-joins-mls-in-surprise-move-heres-how-apple-could-have-played-into-decision-to-join-davi" target="_blank" rel="noreferrer noopener">previously acquired the rights</a>&nbsp;to Major League Soccer and select Major League Baseball games. The MLS bet paid off with superstar&nbsp;Lionel Messi&nbsp;joining the league and Apple&nbsp;<a href="https://www.benzinga.com/news/23/08/33737512/lionel-messis-inter-miami-stint-leads-to-explosive-surge-in-mls-streaming-subscribers-double" target="_blank" rel="noreferrer noopener">seeing a boost</a>&nbsp;in subscribers to the platform.
Apple will release "Blitz" in select theaters on Nov. 1 with a streaming premiere on AppleTV+ on Nov. 22. The company also has "F1," which stars Pitt, opening in theaters on June 25, 2025.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent100324">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Image: Shutterstock

Entertainment

AAPL

NFLX

Apple TV+ Scores Biggest Streaming Movie In History Thanks To George Clooney, Brad Pitt

Nike (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nke#NYSE">NKE</a>) shares fell after the Q1 report, which opened an opportunity for investors. The fall is due to numerous factors, including weaker-than-expected results, revoked guidance, and a CEO transition that is ultimately expected to turn the company around. The takeaway is that Nike faces headwinds and has a long road to recovery, but market support remains firm, and recovery is expected. The question is if now is the right time to buy or if the stock will make a deeper correction before the rebound begins.
The analysts are trimming targets but have yet to make any downgrades. The 19 MarketBeat tracks have the stock pegged at a Moderate Buy and trading near a floor in the low $70s. With this dynamic in play, the market will likely bottom soon and begin to rebuild the base. The critical drivers for the action going forward will be a recovery in wholesales and product innovation, the primary reasons for the company&#39;s weakness today. Nike&#39;s leaning into direct-to-consumer sales eroded wholesaler support, exacerbating market share losses related to innovation.&nbsp;
Nike did not make any significant product innovations for years until 2024, losing market share to start-ups like On Holdings (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/onon#NYSE">ONON</a>) and legacy shoemakers like Adidas (OTC: <a class="ticker" href="https://www.benzinga.com/stock/adddf#OTC">ADDDF</a>) and Deckers Outdoors (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/deck#NYSE">DECK</a>). On Holdings is growing at an industry-leading double-digit pace while Nike flounders in contraction. Even so, the new Nike pipeline depends on updates to existing Air technology, athlete partnerships to drive product changes, and streamlined production, which may not yield results quickly. The best estimates are for the changes to take effect in early 2026, more than eighteen months away.&nbsp;
<h2>Nike Had a Tough Quarter, But Not a Bad One</h2>
Nike had a tough time in Q1, but the business remains profitable, producing positive cash flow sufficient to sustain balance sheet quality and capital returns. The company reported $11.6 billion in net revenue, down 10.4% compared to last year, falling short of the consensus estimates but beating the bottom line. Revenue was impacted by weakness in Nike and Converse brands, DTC, and wholesales, with a contraction in the core footwear and apparel categories. Equipment is the single area of strength, up 34%, aiding bottom-line results.&nbsp;
The margin news is also mixed, with gross margin and selling, general, and administrative expenses (SG&amp;A) improving but offset by increased sales and tax expenses. The takeaway is that net income is down 28% year over year, and the diluted GAAP EPS is 26% but well above forecasts, reflecting operational improvements and quality. The net result is $0.70 in GAAP EPS, which is more than 3500 basis points above consensus, with margin quality expected to continue in the coming quarters.&nbsp;
The details that spooked the market are the retracted full-year guidance and delayed investor day conference, which brings an element of uncertainty to the outlook with the CEO change due soon. As it is, the company expects Q2 revenue to be down 8% to 10%, putting the H1 outlook in alignment with the prior forecast.&nbsp;
<h2>No Red Flags on Nike&#39;s Strong Balance Sheet: Capital Returns Can Run</h2>
As troubled as Nike is, the company produced a positive cash flow quarter and improved its balance sheet while sustaining dividends and share repurchases. The share repurchases topped $1 billion for the quarter, helping to reduce the average count by 2.7%, and will likely continue as the fiscal year progresses.&nbsp;
The dividend is also safe at roughly 50% of the quarterly earnings. However, the pace of annual increase will likely slow from double-digits into the low single-digits until growth is reinvigorated. Regarding the balance sheet, cash and assets are up compared to last year, and debt and equity are relatively flat, leaving the company in a net-cash position relative to its debt, with leverage low at 0.6x equity. Nike has work to do but is in a solid financial position, capable of making the necessary moves to achieve its goal.&nbsp;
<img alt="Nike NKE stock chart" class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20241002091343_chart-nke-1022024.png" style="height:423px; width:917px" />
The article &quot;<a href="https://www.marketbeat.com/originals/nikes-post-earnings-drop-presents-a-buying-opportunity/">Nike&#39;s Post-Earnings Drop Presents a Buying Opportunity</a>&quot; first appeared on MarketBeat.

Dividends

ADDDF

DECK

ONON

Nike's Post-Earnings Drop Presents a Buying Opportunity

Investors with a lot of money to spend have taken a bullish stance on Celsius Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CELH, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 13 uncommon options trades for Celsius Holdings.
This isn't normal.
The overall sentiment of these big-money traders is split between 46% bullish and 38%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $376,568, and 6 are calls, for a total amount of $212,218.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $17.5 to $130.0 for Celsius Holdings during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
In terms of liquidity and interest, the mean open interest for Celsius Holdings options trades today is 868.0 with a total volume of 2,525.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Celsius Holdings's big money trades within a strike price range of $17.5 to $130.0 over the last 30 days.
<h3>Celsius Holdings Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727983154_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CELH</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$100.0</td>
<td>$98.35</td>
<td>$100.0</td>
<td>$130.00</td>
<td>$90.0K</td>
<td>218</td>
<td style="text-align: right;">9</td>
</tr>
<tr>
<td>CELH</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$8.3</td>
<td>$8.2</td>
<td>$8.3</td>
<td>$30.00</td>
<td>$73.0K</td>
<td>761</td>
<td style="text-align: right;">207</td>
</tr>
<tr>
<td>CELH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$6.75</td>
<td>$6.65</td>
<td>$6.75</td>
<td>$40.00</td>
<td>$59.4K</td>
<td>2.4K</td>
<td style="text-align: right;">219</td>
</tr>
<tr>
<td>CELH</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$5.5</td>
<td>$5.4</td>
<td>$5.42</td>
<td>$35.50</td>
<td>$54.0K</td>
<td>37</td>
<td style="text-align: right;">200</td>
</tr>
<tr>
<td>CELH</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$5.45</td>
<td>$5.2</td>
<td>$5.31</td>
<td>$35.50</td>
<td>$53.1K</td>
<td>37</td>
<td style="text-align: right;">100</td>
</tr>
</tbody>
</table>

<h3>About Celsius Holdings</h3>
Celsius Holdings plays in the energy drink subsegment of the global nonalcoholic beverage market, with 96% of revenue concentrated in North America. Celsius' products contain natural ingredients and a metabolism-enhancing formulation, appealing to fitness and active lifestyle enthusiasts. The firm's portfolio includes its namesake Celsius Originals beverages (including those that are naturally caffeinated with stevia), Celsius Essentials line (containing aminos), and Celsius On-the-Go powder packets. Celsius dedicates its efforts to branding and innovation, while it utilizes third parties for the manufacturing, packaging, and distribution of its products. In 2022, Celsius forged a 20-year distribution agreement with PepsiCo, which holds an 8.5% stake in the business.
In light of the recent options history for Celsius Holdings, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Present Market Standing of Celsius Holdings</h3>
<ul>
<li>With a volume of 4,035,346, the price of CELH is down -0.66% at $30.25. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 33 days.</li>
</ul>
<h3>What Analysts Are Saying About Celsius Holdings</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $42.4.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Piper Sandler persists with their Overweight rating on Celsius Holdings, maintaining a target price of $47. 
&#x2A; An analyst from Roth MKM persists with their Buy rating on Celsius Holdings, maintaining a target price of $45. 
&#x2A; Maintaining their stance, an analyst from Roth MKM continues to hold a Buy rating for Celsius Holdings, targeting a price of $43. 
&#x2A; An analyst from B of A Securities has decided to maintain their Underperform rating on Celsius Holdings, which currently sits at a price target of $26. 
&#x2A; Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Celsius Holdings with a target price of $51. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Celsius Holdings options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

CELH

Looking At Celsius Holdings's Recent Unusual Options Activity

Financial giants have made a conspicuous bullish move on Hims &amp; Hers Health. Our analysis of options history for Hims &amp; Hers Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) revealed 39 unusual trades.
Delving into the details, we found 58% of traders were bullish, while 28% showed bearish tendencies. Out of all the trades we spotted, 11 were puts, with a value of $756,530, and 28 were calls, valued at $3,089,081.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $30.0 for Hims &amp; Hers Health over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
In terms of liquidity and interest, the mean open interest for Hims &amp; Hers Health options trades today is 2581.74 with a total volume of 69,554.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Hims &amp; Hers Health's big money trades within a strike price range of $10.0 to $30.0 over the last 30 days.
<h3>Hims &amp; Hers Health Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727983149_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>HIMS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$2.25</td>
<td>$2.1</td>
<td>$2.2</td>
<td>$20.00</td>
<td>$1.0M</td>
<td>6.1K</td>
<td>5.0K</td>
</tr>
<tr>
<td>HIMS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$6.8</td>
<td>$6.7</td>
<td>$6.8</td>
<td>$15.00</td>
<td>$152.3K</td>
<td>2.8K</td>
<td>947</td>
</tr>
<tr>
<td>HIMS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$1.05</td>
<td>$1.0</td>
<td>$1.0</td>
<td>$13.00</td>
<td>$150.0K</td>
<td>1.4K</td>
<td>2.7K</td>
</tr>
<tr>
<td>HIMS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$6.5</td>
<td>$6.4</td>
<td>$6.5</td>
<td>$15.00</td>
<td>$139.7K</td>
<td>2.8K</td>
<td>262</td>
</tr>
<tr>
<td>HIMS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$5.0</td>
<td>$4.9</td>
<td>$5.0</td>
<td>$20.00</td>
<td>$125.0K</td>
<td>2.3K</td>
<td>640</td>
</tr>
</tbody>
</table>

<h3>About Hims &amp; Hers Health</h3>
Hims &amp; Hers Health Inc is a multi-specialty telehealth platform that connects consumers to licensed healthcare professionals, enabling them to access high-quality medical care for numerous conditions related to mental health, sexual health, dermatology, primary care, and more.
Having examined the options trading patterns of Hims &amp; Hers Health, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Hims &amp; Hers Health's Current Market Status</h3>
<ul>
<li>With a trading volume of 22,353,251, the price of HIMS is down by -10.18%, reaching $17.02.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 32 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Hims &amp; Hers Health</h3>
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $20.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from B of A Securities has decided to maintain their Buy rating on Hims &amp; Hers Health, which currently sits at a price target of $20. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Hims &amp; Hers Health, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Hims & Hers Health, Inc. Class A Common Stock

HIMS

Check Out What Whales Are Doing With HIMS

Investors with a lot of money to spend have taken a bullish stance on ZIM Integrated Shipping (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ZIM, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 9 uncommon options trades for ZIM Integrated Shipping.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 33%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $95,507, and 6 are calls, for a total amount of $311,252.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $5.0 to $25.0 for ZIM Integrated Shipping during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in ZIM Integrated Shipping's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to ZIM Integrated Shipping's substantial trades, within a strike price spectrum from $5.0 to $25.0 over the preceding 30 days.
<h3>ZIM Integrated Shipping 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727983144_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ZIM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$17.0</td>
<td>$16.95</td>
<td>$17.0</td>
<td>$5.00</td>
<td>$93.5K</td>
<td>78</td>
<td>55</td>
</tr>
<tr>
<td>ZIM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$0.79</td>
<td>$0.66</td>
<td>$0.66</td>
<td>$25.00</td>
<td>$66.0K</td>
<td>15.5K</td>
<td>2.1K</td>
</tr>
<tr>
<td>ZIM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$1.95</td>
<td>$1.76</td>
<td>$1.95</td>
<td>$24.00</td>
<td>$58.5K</td>
<td>792</td>
<td>316</td>
</tr>
<tr>
<td>ZIM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/11/24</td>
<td>$0.97</td>
<td>$0.0</td>
<td>$0.91</td>
<td>$22.00</td>
<td>$39.0K</td>
<td>97</td>
<td>432</td>
</tr>
<tr>
<td>ZIM</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$1.92</td>
<td>$1.46</td>
<td>$1.69</td>
<td>$22.50</td>
<td>$33.8K</td>
<td>5.6K</td>
<td>200</td>
</tr>
</tbody>
</table>

<h3>About ZIM Integrated Shipping</h3>
ZIM Integrated Shipping Services Ltd is an asset-light container liner shipping company. It offers tailored services, including land transportation and logistical services, specialized shipping solutions, including the transportation of out-of-gauge cargo, refrigerated cargo, and dangerous and hazardous cargo. Its services include Cargo Services, Digital Services, Schedules, and Shipping Trades and Lines. Geographically, it derives a majority of its revenue from the Pacific trade region.
After a thorough review of the options trading surrounding ZIM Integrated Shipping, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Present Market Standing of ZIM Integrated Shipping</h3>
<ul>
<li>With a trading volume of 4,796,348, the price of ZIM is up by 1.24%, reaching $23.7.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 41 days from now.</li>
</ul>
<h3>Expert Opinions on ZIM Integrated Shipping</h3>
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $17.75.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Reflecting concerns, an analyst from Jefferies lowers its rating to Hold with a new price target of $25. 
&#x2A; In a cautious move, an analyst from JP Morgan downgraded its rating to Underweight, setting a price target of $10. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for ZIM Integrated Shipping, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Decoding ZIM Integrated Shipping's Options Activity: What's the Big Picture?

Oil is trading more than 5% higher Thursday on the heels of President Joe Biden&#8216;s statement that the U.S. spoke with Israel about a possible attack on Iran's oil facilities.
"We're in discussions about that,&#8221; Biden said during an interaction with reporters. 
Biden seemingly indicated he wasn&#8217;t partial to the idea of striking at Iran&#8217;s oil facilities, before cutting himself off: &#8220;I think that would be a little&#8230; anyway.&#8221; See video below.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Biden: Discussing Israeli strikes on Iran oil facilities &#x7C; AJ #shorts" width="500" height="281" src="https://www.youtube.com/embed/InF5MnsXAt0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
When one reporter asked whether Biden would &#8220;allow&#8221; Israel to retaliate against Iran, Biden swiftly corrected him: &#8220;First of all, we don&#8217;t &#8216;allow&#8217; Israel. We advise Israel.&#8221;
<a href="https://www.benzinga.com/news/23/10/35136071/israel-under-siege-unprecedented-hamas-attack-sparks-intense-clashes-netanyahu-says-we-are-at-war">Since Oct. 7, 2023</a>, Israel has been fighting Hamas in Gaza as well as Hezbollah in Lebanon. Both groups are considered terrorist organizations by the U.S. 
See Also: <a href="https://www.benzinga.com/news/24/10/41134015/jd-vance-tim-walz-debate-sets-a-different-tone-candidates-discuss-israel-iran-escalation-immigration">JD Vance, Tim Walz Debate Sets A Different Tone, Candidates Discuss Israel-Iran Escalation</a>
<h3 class="wp-block-heading">Oil And The Israel-Iran Conflict</h3>
Iran is the seventh-largest oil producer in the world. The country, which backs the Hezbollah militant group, exports around half its production abroad. 
China, where <a href="https://www.benzinga.com/markets/asia/24/08/40596334/asia-markets-mixed-europe-gains-crude-oil-falls-on-chinese-demand-concerns-global-markets-today-whil">oil demand is weak</a>, is its main customer.
Since Iran's <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil">missile attack on Israel</a> on Monday, the price of barrels has fluctuated. As of Oct. 3, the price of West Texas Intermediate (WTI) crude oil is $73.83 per barrel. This reflects a 5.32% increase from the previous day&#8217;s close of $70.10.
The price of Brent crude is approximately $77.76 per barrel. It has fluctuated within a range of $74.33 to $77.58 for the day.
The U.S., which is producing more oil under Biden than any other U.S. presidential administration, has been filling its reserves. The Biden administration acquired an additional <a href="https://www.benzinga.com/markets/eurozone/24/10/41146905/geopolitical-risks-may-be-biggest-threat-to-markets-boe-says">6 million barrels of crude</a> just this week.
It&#8217;s worth noting that ongoing violence in the Middle East puts the Straits of Hormuz at risk. A third of tanker traffic and a fifth of LNG frozen gas is transported through that passageway. 
The U.S. and its allies are likely determined to keep the Strait open due to its strategic importance. Any attempt to block the Strait could provoke military intervention.
Iran controls much of the northern coastline of the Strait and has previously threatened to block the passage in response to sanctions or conflicts with Western countries. 
<h3 class="wp-block-heading">Market Reaction</h3>
So far, market reaction to the Middle East conflict is relatively mute compared to February 2022 when Russia invaded Ukraine.
At the time, the oil market reacted with significant volatility and disruption, leading to a sharp rise in global prices. 
Brent crude, the global benchmark, surged above $100 per barrel for the first time since 2014, and by March 2022, it had briefly spiked to $139 per barrel, near the all-time high.
Oil-related exchange-traded funds, or ETFs, were trending up at last check Thursday afternoon. Here&#8217;s where they stand: 
<ul>
<li>United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) is up 4.05% to $75.71</li>
<li>Invesco DB Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBO#NYSE">DBO</a>) is up 4.08% at $15.06</li>
<li>SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) is up 3.1% at $139.56</li>
<li>Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) up 1.65% at $92.22</li>
<li>ProShares Ultra Bloomberg Crude Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCO#NYSE">UCO</a>) is up 6.59% at $28.81</li>
<li>VanEck Vectors Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) is up 1.89% at $297.58</li>
</ul>
Now Read: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/previews/24/10/41170128/jobs-report-preview-could-september-labor-data-shift-feds-interest-rate-path">Jobs Report Preview: Could September Labor Data Shift Fed&#8217;s Interest Rate Path?</a></li>
</ul>
Image: Shutterstock

Regulations

Sector ETFs

Commodities

Politics

Global

ETFs

Oil Prices Rally: Biden Confirms US 'Discussions' With Israel About Striking Iran Facilities

Deutsche Bank analyst Scott Deuschle changed price targets and presented earnings previews for major Aerospace companies such as GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) and Howmet Aerospace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>).
The analyst writes that these stocks are well-insulated against end-market challenges and are likely to achieve the largest earnings beats and drive significant upward revisions.
GE Aerospace: The analyst raised the price target to $235 from $212 <a target="_blank" href="https://www.benzinga.com/quote/ge/analyst-ratings" rel="noreferrer noopener">while maintaining a Buy rating</a>.
Deuschle expects a 9% EPS beat in their base case and a 15% beat in the blue sky scenario for the third quarter.
In both cases, the analyst anticipates an increase in 2024 guidance, with a potential 7% EBIT rise if the blue sky scenario occurs.
Strong CSA collections from the summer flying season could drive free cash flow (FCF) above expectations, leading to an increase in FCF guidance, adds the analyst.
Overall, Deuschle says that they are optimistic ahead of the earnings release due to the potential for a significant beat and raise this quarter.
Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40986267/ge-aerospace-takes-flight-with-ai-wingmate-boosts-innovation-employee-productivity-with-microsof" rel="noreferrer noopener">GE Aerospace Takes Flight With AI Wingmate: Boosts Innovation, Employee Productivity With Microsoft&#8217;s Azure AI</a>
Howmet: The analyst raised the price target to $125 from $106 while <a target="_blank" href="https://www.benzinga.com/quote/hwm/analyst-ratings" rel="noreferrer noopener">maintaining a Buy rating</a>.
The analyst writes that the base case estimates third-quarter EPS at $0.68, above the Street&#8217;s $0.66, with a roughly 2% midpoint guidance increase.
The analyst cited upside drivers such as pricing strategies, strong execution allowing shipments above long-term agreement caps, and earlier-than-expected generation 2 LEAP HPT blade shipments.
Deuschle expects HWM to guide 2025 revenue in line with the Street (+10%), which could trigger further positive revisions, given a higher 2024 base and likely surprises in Engine Products EBITDA margins.
Read Next: <a target="_blank" href="https://www.benzinga.com//node/41171469" rel="noreferrer noopener">Uber &amp; Avride Join Forces for Autonomous Delivery; Partners With ENSO For Low-Emission EV Tires</a>
For Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), the analyst lowered the price target to $195 from $225 while <a target="_blank" href="https://www.benzinga.com/quote/BA/analyst-ratings" rel="noreferrer noopener">maintaining a Buy rating</a>.
The analyst anticipates a third-quarter free cash flow burn of ($4.0 billion), up from a previous estimate of ($2.4 billion), due to the strike&#8217;s impact on September deliveries and ongoing cash pressures in Boeing&#8217;s Defense segment.
The forecast includes a $1 billion EBIT loss at Boeing Defense Systems (BDS) and a $1.6 billion loss at Boeing Commercial Airplanes (BCA), adds the analyst.
Deuschle says that BCA loss forecast assumes a $1 billion forward loss on the 777X, reflecting delays in entry into service and increased costs related to union negotiations and wage hikes.
Also Read: <a href="https://www.benzinga.com/news/24/10/41170226/boeing-workers-union-says-decision-to-cut-health-care-for-33-000-is-unnecessary-and-cruel" target="_blank" rel="noreferrer noopener">Boeing Workers&#8217; Union Says Decision To Cut Health Care For 33,000 Is &#8216;Unnecessary And Cruel&#8217;</a>
Image via Shutterstock

GE and Howmet Poised for Strong Earnings as Aerospace Sector Stays Resilient: Analyst

The Western Union Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wu#NYSE">WU</a>) inked a deal with the Open Finance company, Khipu, enabling customers to transfer money digitally using any bank account in Chile.
The agreement incorporates Khipu&#39;s technology into Western Union&#39;s mobile app and website. Earlier, customers paying through a bank account had to leave the Western Union app or website and log into their bank&#39;s platform to complete the payment. This step is now removed as a result of the latest integration, allowing the entire transaction to be completed within the Western Union platform. The service is now available via the Western Union Chile app and website.
Western Union has also introduced a special promotion offer with a $0 fee for the first remittance made using the &quot;Online Bank Transfer&quot; option, thereby encouraging customers to explore the new service. The collaboration between WU and Khipu makes sure that cross-border payments can be made faster and more seamlessly by Chile&#39;s customers.
<h2>Benefits of the Recent Move to Western Union</h2>
The recent initiative reflects Western Union&#39;s sincere efforts to establish a solid footprint across the Chilean remittance market.&nbsp;
Moves similar to the latest one are indicative of Western Union&#39;s efforts to align with its global digital expansion strategy, designed to attract more customers through its diverse service offerings. Speedier money transfers brought about by integrating Khipu&#39;s technology into the WU platform are likely to result in the increased usage of its money transfer services. This move is likely to further boost the company&#39;s digital money transfer revenues in the days ahead.
Strategic partnerships with financial service providers and significant investments have enabled Western Union to develop a robust digital platform. This platform&#39;s strength has made it a preferred partner for efficient global money transfers and advancing digitization in underserved regions.
<h2>Western Union&#39;s Stock Price Performance</h2>
Shares of Western Union have dipped 0.7% year to date against the industry&#39;s 8.8% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/af/80259.jpg?v=1602165044" />
Image Source: Zacks Investment Research
<h2>WU&#39;s Zacks Rank &amp; Other Stocks to Consider</h2>
WU currently carries a Zacks Rank #2 (Buy).&nbsp;
Some other top-ranked stocks in the Business Services space are Duolingo, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/duol#NASDAQ">DUOL</a>), RCM Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rcmt#NASDAQ">RCMT</a>) and AppLovin Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/app#NASDAQ">APP</a>), each currently sporting a Zacks Rank #1 (Strong Buy).
The bottom line of Duolingo outpaced estimates in each of the last four quarters, the average surprise being 92.09%. The Zacks Consensus Estimate for DUOL&#39;s 2024 earnings is pegged at $1.87 per share, which indicates a more than five-fold increase from the year-ago figure. The consensus mark for revenues implies growth of 38.6% from the year-ago number. The consensus mark for DUOL&#39;s 2024 earnings has moved 7.5% north in the past 60 days.&nbsp;
RCM Technologies&#39; earnings outpaced estimates in three of the trailing four quarters and matched the mark once, the average surprise being 17.49%. The Zacks Consensus Estimate for RCMT&#39;s 2024 earnings indicates an improvement of 10.4% from the year-ago figure. The same for revenues also implies growth of 5.3% from the prior-year reading. The consensus mark for RCMT&#39;s 2024 earnings has moved 2.2% north in the past 60 days.&nbsp;
The bottom line of AppLovin outpaced estimates in each of the last four quarters, the average surprise being 21.06%. The Zacks Consensus Estimate for APP&#39;s 2024 earnings is pegged at $3.46 per share, which indicates a nearly four-fold increase from the year-ago figure. The consensus mark for revenues implies growth of 35.2% from the year-ago actual. The consensus mark for APP&#39;s 2024 earnings has moved 13.1% north in the past 60 days.
Shares of Duolingo and AppLovin have gained 24% and 238.2%, respectively, year to date. However, RCM Technologies stock has lost 31% in the same time frame.
<a href="https://www.zacks.com/stock/news/2345644/western-union-expands-footprint-in-chile-with-khipu-partnership?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2345644">To read this article on Zacks.com click here.</a>

Latin America

Offerings

DUOL

RCMT

Western Union Expands Footprint in Chile With Khipu Partnership

OSTX

OS Therapies shares are trading higher after the company announced the completion of its Phase 2b clinical trial for OST+HER2 in recurred osteosarcoma and is preparing to request an FDA Type C meeting to adjust protocol. It's data analysis and topline results are expected in Q4 2024.

Cryptocurrency markets are trading lower as geopolitical tensions continue to loom over global financial markets.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>&nbsp;$60,619.33&nbsp;</td>
<td>&nbsp;-1%</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>&nbsp;$2,342.84&nbsp;</td>
<td>&nbsp;-3%</td>
</tr>
<tr>
<td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td>
<td>&nbsp;$134.89</td>
<td>&nbsp;-5.8%</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>&nbsp;$0.103</td>
<td>&nbsp;-0.7%</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td>&nbsp;$0.0000159</td>
<td>&nbsp;-3%</td>
</tr>
</tbody>
</table>
</figure>
Notable Statistics:
<ul>
<li>IntoTheBlock data shows large transaction volume decreasing by 13.4% and daily active addresses falling by 15.9%. Transactions greater than $100,000 are down from 9,410 to 8,750 &nbsp;in a single day. Exchanges netflows are down by 4,310.1%.</li>
<li>Coinglass data reports 93,852 traders were liquidated in the past 24 hours for $263.49 million.</li>
</ul>
Notable Developments:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41171878/franklin-templeton-seeks-sec-approval-for-dual-bitcoin-ethereum-index-etf">Franklin Templeton Seeks SEC Approval For Dual Bitcoin, Ethereum Index ETF</a></li>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41171711/visa-teams-up-with-bbva-to-issue-fiat-backed-tokens-on-blockchain-networks-plans-initial-pilot-b">Visa Teams Up with BBVA To Issue Fiat-Backed Tokens On Blockchain Networks, Plans Initial Pilot By 2025</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41170643/grayscale-launches-new-fund-for-aave-expands-investment-product-line">Grayscale Launches New Fund For AAVE, Expands Investment Product Line</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41159486/swift-targets-2025-to-test-digital-currency-trades-as-central-authorities-look-to-keep-pac">SWIFT Targets 2025 To Test Digital Currency Trades As Central Authorities Look To Keep Pace With Bitcoin&#8217;s Efficiency</a></li>
</ul>
Top Losers:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Ethena (CRYPTO: ENA )</td>
<td>&nbsp;$0.2871</td>
<td>&nbsp;-13.8%</td>
</tr>
<tr>
<td>Beam (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/beam/usd">BEAM</a>)</td>
<td>&nbsp;$0.01479</td>
<td>&nbsp;-12.6%</td>
</tr>
<tr>
<td>Fantom (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ftm/usd">FTM</a>)</td>
<td>&nbsp;$0.6051</td>
<td>&nbsp;-9.9%</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: With Bitcoin prices around the $60,000 mark, crypto chart analyst Ali Martinez marked $60,365 as the key Bitcoin level to watch. A break below this would take Bitcoin to $57,420. If this level holds, the crypto king will <a href="https://x.com/ali_charts/status/1841882152528486606">rebound</a> to $63,300, according to the analyst.
CryptoCon tweeted that the Bitcoin bull market starts in two months, according to their analysis.
<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">The real <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> bull market begins in 2 months. November 28th, 2024. <a href="https://t.co/d3XHRviZTQ">pic.twitter.com/d3XHRviZTQ</a>
&mdash; CryptoCon (@CryptoCon_) <a href="https://twitter.com/CryptoCon_/status/1841871403567514106?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Santiment <a href="https://x.com/santimentfeed/status/1841889999463002294">data</a> pointed out that with Bitcoin dropping 9.2% since its $66,400 local high on Sep. 27, public sentiment towards crypto has cooled considerably. The analytics firm thinks this mood change is &#8220;encouraging, considering markets typically always move the opposite direction of the crowd&#8217;s expectation.&#8221;
What&#8217;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 thoroughly explored at Benzinga&#8217;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 on Nov. 19.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41166146/would-bitcoin-drop-if-a-war-in-the-middle-east-breaks-out-yes-but-theres-a-catch">Would Bitcoin Drop If A War In The Middle East Breaks Out? Yes, But There&#8217;s A Catch</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BEAM

$BTC

$DOGE

$ETH

$FTM

$SHIB

$SOL

Bitcoin, Ethereum, Dogecoin Drop Again, Continue Defying 'Uptober' Sentiments: Watch This Key Level For A Rebound To $63K, Says Analyst

Airline stocks have endured a <a href="https://www.benzinga.com/news/24/10/41124443/whats-going-on-with-delta-united-and-spirit-airlines-shares-tuesday">year of turbulence</a>, reflected by wild swings in share price, industry expectations and earnings. Recent insider trades of airline companies could indicate where the industry will head next.
The Trades: <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga Edge compiles information </a>on insider trade filings.
Southwest Airlines Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) experienced a <a href="https://www.benzinga.com/markets/equities/24/10/41156975/southwest-airlines-director-rakesh-gangwal-invests-over-100m-in-shares-amid-elliott-managements-">flurry of insider activity</a> in recent days. Director Rakesh Gangwal invested over $100,000,000 in Southwest shares in late September and early October. Executive Chairman Gary C Kelly <a href="https://www.benzinga.com/quote/LUV/insider-trades">bought $1,000,000 of Southwest</a> shares in late September.
Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) is the largest American airline company. The Atlanta-based giant experienced several insider sales in early 2024. President Glen W Hauenstein sold $4,904,600 in Delta stock in April, over 30% of his total holding. Executive Vice President Peter W Carter sold $2,500,000 of Delta shares that month, over 25% of his position.
Delta has experienced a volatile year. Its share price rose over 30% from January to mid-May, but a subsequent drawdown erased much of its gains. A recovery followed from August to late September.
Several Allegiant Travel Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGT#NASDAQ">ALGT</a>) executives <a href="https://www.benzinga.com/quote/ALGT/insider-trades">have sold shares</a> in 2024. Chief Marketing Officer Scott DeAngelo sold over $1,000,000 in Allegiant stock in May. DeAngelo has since <a href="https://ir.allegiantair.com/news/news-details/2024/Allegiant-Announces-Resignation-of-Executive-Vice-President-and-Chief-Marketing-Officer-Scott-DeAngelo/default.aspx">resigned</a> from the company. Chief Operating Officer Frank Wilper and Director Gary Ellmer also made sales in the spring and summer.
Why it Matters: Insider trading activity is often viewed as a valuable indicator of a company's future prospects. When top executives or board members buy or sell shares, it can signal their confidence—or lack thereof—in the company's performance. In the case of airline stocks, this insider movement may be especially relevant as the industry navigates a turbulent environment marked by fluctuating demand, rising fuel costs, and post-pandemic recovery.
For investors, tracking these insider trades provides a critical lens into how industry leaders perceive future risks and opportunities, which can guide their own strategies in an increasingly volatile market.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/general/sports/24/09/41053573/hurricane-helene-disrupts-flights-sports-events-disney-operations-affected-regions-stocks-to-watch">Hurricane Helene Disrupts Flights, Sports Events, Disney Operations: Affected Regions, Stocks To Watch</a></li>
</ul>
Photo: Tupungato/Shutterstock.com

Travel

Insider Trades

ALGT

Will Airlines Soar Or Stall? What Insider Trades Say About Industry's Future

TCBP

TC BioPharm shares are trading higher after the company announced an AI partnership with Carnegie Mellon University for donor screening.

Meituan: Near-Term Concerns Gave Us An Attractive Opportunity To Increase Our Position

Pinterest (PINS) delivered robust second-quarter results supported by strong revenue growth and continuous innovations. While its long-term outlook appears positive with increasing worldwide internet usage, it faces slow quarterly active user growth compared to the prior quarters. So, let's determine whether Pinterest is a buy amid social media landscape shifts. Read more to find out... Pinterest, Inc. (<a href="https://stocknews.com/stock/PINS/">PINS</a>), an international visual search and discovery platform provider, performed well in the second quarter and reported robust financial results. The company reported a record quarterly revenue of $ 853.68 million, indicating an increase of 20.6% from the prior-year quarter. However, its global quarterly active users graphs appears to be moving slow.
Pinterest has emerged as a go-to destination for inspiration. People from all generations worldwide engage on the platform to explore their interests and share their inspiration with others. Further, its drive for innovation like introducing new ways to share Pinterest boards, keeps the users interested.
PINS recently introduced new AI tools for creativity and performance. Pinterest Ad Labs is an innovation program where select brands can test prototypes of new creative and ad tools leveraging generative AI features. With this, Pinterest aims to encourage experimentation and to learn from advertiser feedback. It offers personalized background generation and collages for advertisers.
Further, with the increasing worldwide internet usage penetration among the general population, the internet industry is growing. There were <a href="https://www.statista.com/statistics/617136/digital-population-worldwide/">5.45 billion internet users worldwide as of July 2024</a>, amounting to 67.1% of the global population. Further, of this overall total, 5.17 billion, or 63.7% of people, were social media users of the world's population.
During the quarter, PINS partnered with Integral Ad Science (<a href="https://stocknews.com/stock/IAS/">IAS</a>), a leading global media measurement and optimization platform, to provide global advertisers higher transparency into campaigns across PINS' in-app feed through IAS' AI-driven Total Media Quality (TMQ) Brand Safety and Suitability product.
Bill Ready, CEO of Pinterest said, "We had another impressive quarter, reporting a 21% increase in revenue and 12% growth in monthly active users globally. Our monetization efforts are paying off. Advertisers are seeing improved performance across key objectives on Pinterest – from brand awareness to conversion – as we continue to roll out AI-powered products and experiences."
He added "As a result, we're gaining share of advertising budgets with some of the world's largest brands. I'm proud of our pace of innovation as we execute against the opportunity ahead."
According to the company's guidance for the third quarter of 2024, PINS expects its revenue to be in the range of $885 million to $900 million, reflecting 16% - 18% growth year-over-year.
Shares of PINS have surged 15% over the past year to close its last trading session at $31.65. However, the stock has plunged 23.5% over the past month.
Let's look at factors that could influence PINS' performance in the upcoming months.
Positive Recent Developments
On June 13, PINS and Integral Ad Science (<a href="https://stocknews.com/stock/IAS/">IAS</a>), a leading global media measurement and optimization platform, entered a partnership to provide global advertisers with greater transparency into campaigns across PINS' in-app feed through IAS' AI-driven Total Media Quality (TMQ) Brand Safety and Suitability product.
The new launch includes features like trusted campaign insights, frame-by-frame analysis, campaign-level measurement, and global coverage. The new TMQ for PINS provides advertisers safeguards across a total of 39 countries in 40 languages. The partnership will expand PINS operations and offer brand safety and greater confidence to confidence via best-in-class technology.
Robust Financials
For the second quarter that ended June 30, 2024, PINS' revenue increased 20.6% year-over-year to $853.68 million, of which its revenue from the US and Canada rose 19.1% year-over-year to $673 million. The company's adjusted <a href="https://www.investopedia.com/terms/e/ebitda.asp">EBITDA</a> grew 68.1% from the year-ago value to $179.91 million.
Furthermore, the company's non-GAAP net income came in at $207.16 million and $0.29 per share, indicating increases of 45.8% and 38.1% from the prior year's quarter, respectively. The company's total assets totaled $3.75 billion as of June 30, 2024, compared to $3.59 billion as of December 31, 2023.
Solid Historical Growth
PINS' revenue has grown at a CAGR of 14.1% over the past three years. The company's net income has increased at a CAGR of 6% over the same timeframe, while its normalized net income has improved at a CAGR of 12%.
Also, the company's tangible book value and total assets have increased at CAGRs of 7.4% and 9.1% over the past three years, respectively. And its levered free cash flow grew 32.2% over the same timeframe.
Favorable Analyst Estimates
Analysts expect PINS' revenue for the third quarter (ending September 2024) to increase 17.4% year-over-year to $895.90 million. The consensus EPS estimate of $0.34 for the same quarter indicates a 22.1% year-over-year improvement. Moreover, PINS has an impressive earnings surprise history, having topped consensus EPS estimates in each of the trailing four quarters.
For the fiscal year ending December 2024, the company's revenue and EPS are expected to grow 19% and 33.9% year-over-year to $3.63 billion and $1.48, respectively. Additionally, Street expects its revenue and EPS for the fiscal year 2025 to increase 16.5% and 21.8% year-over-year to $4.24 billion and $1.78, respectively.
High Profitability
PINS' trailing-12-month gross profit margin of 78.58% is 54.2% higher than the industry average of 50.97%. Its trailing-12-month net income margin of 5.75% is 69.6% higher than the industry average of 3.39%. Similarly, its trailing-12-month levered FCF margin of 23.34% is considerably higher than the industry average of 8.42%.
Furthermore, the stock's trailing-12-month ROCE, ROTC, and ROTA of 6.52%, 4.88%, and 5.12% favorably compared to the industry averages of 3.81%, 3.76%, and 1.33%, respectively.
Elevated Valuation
In terms of forward Price/Sales, PINS is trading at 6x, 378.2% higher than the industry average of 1.25x. Likewise, the stock's forward Price/Book multiple of 6 is 201% higher than the industry average of 1.99. Also, its forward Price/Cash Flow of 22.67x is 189.3% higher than the industry average of 7.84x.
Also, PINS forward non-GAAP P/E of 21.78x is considerably higher than the 13.28x industry average. And its EV/EBITDA of 20.21x is 154.4% higher than the industry average of 7.94x.
POWR Ratings Reflect Uncertainty
PINS' mixed fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, translating to a Neutral in our proprietary system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. PINS has a B grade for Quality, consistent with its higher-than-industry profitability.
However, it has a C for Momentum justified by the stock trading below its 50-day and 200-day moving averages of $38.77 and $36.85, respectively.
PINS is ranked #26 in the 51-stock B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry.
Beyond what I have stated above, we have also given PINS grades for Value, Sentiment, Growth, and Stability. Get access to all the PINS Ratings <a href="https://stocknews.com/stock/PINS/">here</a>.
Bottom Line
PINS reported solid earnings for the second quarter of fiscal 2024. The company's strong industry footing, strategic initiatives, innovative solutions, and solid financial performance position it for bright long-term prospects. However, the company grapples with flat to slow quarterly monthly active user growth.
Given PINS' elevated valuation, waiting for a better entry point in this stock seems prudent.
Stocks to Consider Instead of Pinterest, Inc. (PINS)
Given its near-term uncertain prospects, the odds of PINS outperforming in the weeks and months ahead are compromised. However, there are many industry peers with much more impressive POWR Ratings. So, consider these A (Strong Buy) or B (Buy) stocks from the B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry instead:
Meituan ADR (<a href="Meituan%20ADR">MPNGY</a>), Dingdong (Cayman) Ltd (<a href="https://stocknews.com/stock/DDL/">DDL</a>), and Yelp Inc. (<a href="https://stocknews.com/stock/YELP/">YELP</a>).
For exploring more A and B-rated internet stocks, <a href="https://stocknews.com/category/internet/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>
&nbsp;

<hr />
PINS shares were trading at $32.13 per share on Wednesday afternoon, up $0.48 (+1.52%). Year-to-date, PINS has declined -13.26%, versus a 18.21% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/pins-mpngy-ddl-yelp-ias-is-pinterest-a-buy-as-social-media-landscape-shifts/>Is Pinterest a Buy as Social Media Landscape Shifts?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Is Pinterest a Buy as Social Media Landscape Shifts?

Trip.com: The Hottest Consumer Market In China

Meituan (MPNGF) Q2 2024 Earnings Call Transcript

With Alphabet (GOOGL) facing growing antitrust challenges, investors question whether the tech giant remains a buy. Discover if GOOGL's financial strength and massive growth in AI and cloud can offset regulatory risks. Read on to learn more... Alphabet Inc. (<a href="https://stocknews.com/stock/GOOGL/">GOOGL</a>) has been a dominant player in the tech industry. However, it faces increased scrutiny from regulators worldwide. Google is set to <a href="https://www.reuters.com/technology/us-antitrust-trial-targets-googles-digital-ad-business-2024-09-04/">face trial next week in a second antitrust case</a>, where the U.S. Department of Justice (DOJ) will challenge the company's methods of monetizing advertising, which prosecutors claim harms news publishers.
This case is part of the Biden administration's broader push to curb the power of Big Tech through antitrust laws. It follows a significant victory for the Justice Department in a separate lawsuit on August 5, when a judge ruled that Google illegally monopolized online search.
Despite these looming challenges, GOOGL's financial strength remains undeniable. The company reported better-than-expected revenue and earnings for the second quarter of 2024. Alphabet reported <a href="https://abc.xyz/assets/19/e4/3dc1d4d6439c81206370167db1bd/2024q2-alphabet-earnings-release.pdf">revenues of $84.74 billion</a>, surpassing analysts' estimate of $84.30 billion. The company's EPS came in at $1.89, compared to the consensus estimate of $1.84.
Its main revenue drivers—Google Search, YouTube, and Google Cloud—remain robust. The company's advertising arm, which is at the center of antitrust scrutiny, still accounts for a significant portion of its revenue, and its dominance in digital ads has positioned Alphabet as a key player in the tech ecosystem.
Additionally, Alphabet is well-diversified with its growing cloud business, artificial intelligence (AI) advancements, and other ventures such as Waymo (autonomous driving) and Verily (health technology).
Shares of GOOGL have gained 17.4% over the past month and 15.3% over the past six months to close the last trading session at $156.45.
Let's look at factors that could influence GOOGL's performance in the upcoming months.
Outstanding Financials
For the second quarter that ended June 30, 2024, GOOGL's revenues increased 13.6% year-over-year to $84.74 billion. Its <a href="https://www.investopedia.com/terms/o/operatingincome.asp#:~:text=Operating%20income%20is%20an%20accounting,of%20goods%20sold%20(COGS).">operating income</a> rose 25.6% from the year-ago value to $27.43 billion. Its net income was $23.62 billion, up 28.6% year-over-year. Its earnings per share grew 31.3% from the prior year's quarter to $1.89 billion.
In addition, the company's cash and cash equivalents totaled $27.23 billion as of June 30, 2024, compared to $24.05 billion as of December 31, 2023. Its total assets were $414.77 billion versus $402.39 billion as of December 31, 2023.
Favorable Analyst Estimates
Analysts expect GOOGL's revenue for the third quarter (ending September 2024) to grow 12.5% year-over-year to $86.26 billion. The consensus EPS estimate of $1.84 for the ongoing quarter indicates an improvement of 18.5% year-over-year. Further, the company has surpassed consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
For the fiscal year ending December 2024, Wall Street expects Alphabet's revenue and EPS to increase 13% and 31.5% from the previous year to $347.35 billion and $7.63, respectively. The company's revenue and EPS for the fiscal year 2025 are expected to grow 11.3% and 14% year-over-year to $386.67 billion and $8.69, respectively.
Solid Historical Growth
GOOGL's revenue has grown at a CAGR of 17.2% over the past five years. Its EBITDA has increased at a CAGR of 20.9% over the same period, and its levered free cash flow has grown at a CAGR of 16%. Furthermore, the company's net income and EPS have improved at CAGRs of 20.3% and 23% over the same timeframe, respectively.
Additionally, the company's total assets have increased at a CAGR of 10% over the past five years.
Robust Profitability
GOOGL's trailing-12-month gross profit margin of 57.64% is 13.3% higher than the 50.88% industry average. Its trailing-12-month EBITDA margin of 35.18% is 90.5% higher than the 18.47% industry average. Likewise, the stock's trailing-12-month net income margin of 26.70% is significantly higher than the industry average of 3.24%.
Furthermore, GOOGL's trailing-12-month ROCE, ROTC, and ROTA of 30.87%, 20.34%, and 21.13% are considerably higher than the industry averages of 3.49%, 3.81%, and 1.37%, respectively. The stock's trailing-12-month levered FCF margin of 13.40% is 65.3% higher than the industry average of 8.10%.
POWR Ratings Reflect Promise
GOOGL's sound fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. GOOGL has an A grade for Sentiment, in sync with its favorable analyst expectations. In addition, the stock has a B grade for Quality, consistent with higher-than-industry profitability.
Within the B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry, GOOGL is ranked #8 out of 52 stocks.
Beyond what I have stated above, we have also given GOOGL grades for Value, Growth, Momentum, and Stability. Get all GOOGL ratings <a href="https://stocknews.com/stock/GOOGL/">here</a>.
Bottom Line
While Alphabet's dominance in search and digital ads has put it in the crosshairs of antitrust regulators, its outstanding financial performance, innovation in AI and cloud, and expansion into new markets make it a compelling long-term investment. Given robust financials and a bright growth outlook, GOOGL could be an ideal investment for potential gains.
How Does Alphabet Inc. (GOOGL) Stack Up Against Its Peers?
While GOOGL has an overall POWR Rating of B, investors could also check out these other stocks within the <a href="https://stocknews.com/category/internet/">Internet</a> industry with an A (Strong Buy) rating: Meituan ADR (<a href="https://stocknews.com/stock/MPNGY/">MPNGY</a>), Dingdong (Cayman) Ltd (<a href="https://stocknews.com/stock/DDL/">DDL</a>), and Travelzoo (<a href="https://stocknews.com/stock/TZOO/">TZOO</a>).
To explore more A or B-rated internet stocks, <a href="https://stocknews.com/category/internet/">click here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
GOOGL shares were trading at $156.58 per share on Thursday afternoon, up $0.13 (+0.08%). Year-to-date, GOOGL has gained 12.22%, versus a 16.01% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Mangeet Kaur Bouns</h2> <img src='https:/wp-content/uploads/2022/01/Mangeet-Kaur-Bouns_Image-4.jpg' style="float:left; padding:5px;width:125px;">Mangeet's keen interest in the stock market led her to become an investment researcher and financial journalist. Using her fundamental approach to analyzing stocks, Mangeet's looks to help retail investors understand the underlying factors before making investment decisions.<a href="https://stocknews.com/authors/?author=mangeet-kaurbouns">More...</a>The post <a href=https://stocknews.com/news/googl-mpngy-ddl-tzoo-with-antitrust-challenges-looming-is-alphabet-still-a-buy/>With Antitrust Challenges Looming, Is Alphabet Still a Buy?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

With Antitrust Challenges Looming, Is Alphabet Still a Buy?

South Korea's e-commerce giant, Coupang (CPNG), has surged over 40% this year. Yet, despite this impressive rally, a decline in bottom-line performance raises concerns, leaving investors wondering: Can CPNG keep up its momentum? Read on to find out... Founded in 2010 by Bom Kim, a former Harvard Business School student, Coupang, Inc. (<a href="https://stocknews.com/stock/CPNG/">CPNG</a>) has rapidly become South Korea's e-commerce leader, often earning the title of the "Amazon of South Korea." Shares of CPNG have soared 46.5% over the past nine months and 42.1% year-to-date to close the last trading session at $23.
A question lingers in investors' minds despite this impressive run: can Coupang sustain its upward momentum?
While Coupang's financials have shown mixed signals recently, its second-quarter revenue came in at $7.32 billion, slightly missing the anticipated $7.39 billion. However, on the bright side, its adjusted <a href="https://www.investopedia.com/terms/e/eps.asp">earnings per share</a> of $0.07 exceeded the expected break-even point, delivering a $0.07 surprise.
"This quarter, we continued to see deeper levels of engagement from our customers, powered by our relentless focus on providing even greater levels of selection, service, and savings for customers," said CPNG's CFO Gaurav Anand.
Let's look at factors that could influence CPNG's performance in the upcoming months.
Mixed Financials
In the second quarter of 2024, which ended on June 30, CPNG's net revenue increased 25% year-over-year (or 18% excluding the impact of Farfetch) to $7.32 billion. The company's Product Commerce Active Customers also increased by 12%, reaching 21.7 million, while revenue per active customer rose 5% on a constant currency basis.
Moreover, its gross profit grew 41% year-over-year to $2.14 billion, with a gross margin of 29.3%. CPNG's adjusted EBITDA increased 10% from the year-ago value to $330 million.
However, the company reported an operating loss of $25 million, compared to an operating income of $148 million in the prior year's quarter. In addition, its adjusted attributable net income decreased 14.5% year-over-year to $124 million, and adjusted earnings per share came in at $0.07, down 12.5% year-over-year. CPNG's cash outflow from operating activities declined 33.7% year-over-year to $876 million. 
Mixed Analyst Estimates
Analysts expect CPNG's revenue for the third quarter (ending September 2024) to increase 24.8% year-over-year to $7.72 billion. However, the consensus EPS estimate of $0.01 for the same period indicates a 77.7% year-over-year decline.
Similarly, for the fiscal year ending December 2024, CPNG's revenue is expected to grow 24.4% from the prior year to $30.34 billion, while its EPS for the current year is forecasted to be negative at $0.01.
Stretched Valuation
In terms of forward EV/Sales, CPNG is trading at 1.30x, 7.6% higher than the industry average of 1.21x. Likewise, its forward Price/Sales of 1.36x is 56.8% above the industry average of 0.87x. Furthermore, the stock's forward EV/EBITDA and EV/EBIT multiple of 40.75 and 88.76 compares with the industry averages of 9.76 and 14.24, respectively.
Mixed Profitability
CPNG's trailing-12-month ROCE and ROTA of 31.73% and 6.92% are 175.8% and 69.9% higher than their respective industry averages of 11.50% and 4.08%. Likewise, its trailing-12-month asset turnover ratio of 2.10x is 112.3% above the industry average of 0.99x.
However, the stock's trailing-12-month EBIT and levered FCF margins of 1.14% and 3.95% are below their industry averages by 85.6% and 22.7%, respectively. In addition, the stock's 2.95% trailing-12-month ROTC is 51.7% lower than the 6.11% industry average.
POWR Ratings Exhibit Mixed Prospects
CPNG's stance is apparent in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, which translates to Neutral in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. CPNG has a B grade for Momentum is justified by its share price, which is currently trading above its 50-day moving average of $21.64 and 200-day moving average of $19.31.
However, with a five-year beta of 1.10, the stock has earned a grade C for Stability. Also, the stock's C grade for Sentiment is consistent with its mixed analysts' estimates.
CPNG is ranked #42 out of 52 stocks in the B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry. <a href="https://stocknews.com/stock/CPNG/">Click here</a> to access CPNG's Growth, Value, and Quality ratings.
Bottom Line
CPNG remains dominant in South Korea's e-commerce space, but its latest financials raise concerns. While the company exceeded earnings expectations, it missed revenue and customer growth estimates, causing its stock to drop 4.5% immediately following the results. Despite improvements in operational efficiency and adoption of AI-driven automation, the decline in bottom-line performance and mixed analyst forecasts highlight the company's ongoing challenges.
Considering CPNG's higher-than-industry valuation, enhanced volatility, and a slowing retail market in South Korea, it could be wise to wait for a better entry point in this stock now.
How Does Coupang, Inc. (CPNG) Stack Up Against Its Peers?
While CPNG has an overall grade of C, equating to a Neutral rating, you may also check out these A (Strong Buy) or B (Buy) rated stocks within the <a href="https://stocknews.com/category/internet/">Internet</a> industry: Meituan (<a href="https://stocknews.com/stock/MPNGY/">MPNGY</a>), Dingdong (Cayman) Limited (<a href="https://stocknews.com/stock/DDL/">DDL</a>), and Yelp Inc. (<a href="https://stocknews.com/stock/YELP/">YELP</a>). To explore more Internet stocks, <a href="https://stocknews.com/category/internet/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
CPNG shares were trading at $23.40 per share on Wednesday afternoon, up $0.40 (+1.74%). Year-to-date, CPNG has gained 44.53%, versus a 16.20% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/cpng-mpngy-ddl-yelp-can-coupang-keep-up-its-momentum-as-south-koreas-e-commerce/>Can Coupang Keep up Its Momentum as South Korea's E-Commerce Giant?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Can Coupang Keep up Its Momentum as South Korea's E-Commerce Giant?

The gig is up and in a good way! The global gig economy is set to surge to nearly $2 trillion by 2031. With increasing demand for flexible work and rising global participation, platforms like Fiverr International (FVRR) are leading the charge. Read on to explore why this stock is worth watching as the gig economy expands. The gig economy has been on an unstoppable rise, thanks to the rise of tech-driven freelance marketplaces and on-demand services. What started with ride-sharing apps has now become a full-fledged marketplace for virtually every service imaginable (from food delivery and groceries to finding a plumber or a graphic designer), all with just a few taps on your smartphone.
As digital technologies advance and the work-from-anywhere trend becomes the norm, the gig economy continues to expand. In the past two years alone, about 35 venture-backed companies have raised nearly $800 million, underscoring this space's booming interest and potential. Developing economies also see a surge in gig participation, further fueling this growth.
In this evolving landscape, should you keep an eye on Fiverr International Ltd. (<a href="https://stocknews.com/stock/FVRR/">FVRR</a>)? Let's find out.
Fiverr is a bustling freelance marketplace where people can hire talent from web design to video production, with job postings starting as low as $5. The platform charges a commission on each transaction and offers various subscription options for buyers and sellers. Freelancers on Fiverr can even turn their gigs into full-time careers.
During the Q2 earnings call, CEO Micha Kaufman shared that the company has navigated a challenging macro environment by maintaining operational excellence and delivering profitable growth. He stated, "We've made remarkable strides in our product evolution with the introduction of profession-based catalog and hourly contracts."
Although FVRR saw a dip in traffic in mid-2024, especially in the programming and tech sectors, the company remains optimistic. "Despite a 7% year-over-year decline in U.S. job openings and a 17% drop in the information sector, AI continues to drive growth for Fiverr, particularly in complex services, and is expected to be a growth driver moving forward", Kaufman added.
Shares of FVRR have gained 13.1% over the past six months to close the last trading session at $24.81.
Now, let's look at factors that could influence FVRR's performance in the upcoming months:
Positive Developments
On July 31, FVRR announced <a href="https://investors.fiverr.com/news-releases/news-release-details/fiverr-deepens-ecommerce-solutions-acquisition-leading">the acquisition of AutoDS</a>, a subscription-based drop-shipping platform. AutoDS, which offers tools for product research, inventory management, and automated fulfillment, is expected to significantly boost FVRR's eCommerce capabilities while introducing a new, recurring revenue stream through subscriptions.
Kaufman said the acquisition of AutoDS, which manages over 150 million products and serves tens of thousands of subscribers, supports the company's transition from a marketplace to a platform offering talent and software solutions. Moreover, with the global drop-shipping market expected to soar from $285 billion to over <a href="https://www.oberlo.com/statistics/dropshipping-market">$2 trillion by 2033</a>, AutoDS' automation tools and expansive network are set to enhance FVRR's position in the growing digital services space.
In addition to the acquisition, the company also rolled out new features, including a profession-based <a href="https://www.fiverr.com/news/summer_product_release_2024">catalog and hourly contracts</a>. These additions are designed to expand its market presence and further align with its goal of becoming a full-service platform for talent and software.
Solid Financial Performance
For the second quarter that ended June 30, 2024, FVRR reported revenue of $94.66 million, up 5.9% year-over-year and slightly above the analyst's estimate of $94.63 million. Its non-GAAP gross profit increased by 6.2% year-over-year to $79.93 million, with a margin of 84.4%.
Further, the company's <a href="https://www.investopedia.com/terms/a/adjusted-ebitda.asp">adjusted EBITDA</a> rose 16.8% from the year-ago value to $17.85 million, while its cash outflow from operating activities grew 11.9% from the prior year's quarter to $20.97 million. FVRR's non-GAAP net income amounted to $23.83 million and $0.58 per share, reflecting an increase of 18.9% and 18.4%, respectively, from the same quarter last year.
Also, its free cash flow stood at $20.66 million, up 12.5% year-over-year. Additionally, its cash and cash equivalents increased to $188.73 million as of June 30, 2024, compared to $183.67 million as of December 31, 2023.
Favorable Analyst Estimates
The consensus revenue estimate of $96.39 million for the fiscal third quarter (ending September 2024) represents a 4.2% increase year-over-year. The consensus EPS estimate of $0.61 for the current quarter indicates a 10.1% improvement year-over-year. The company has an excellent earnings surprise history, surpassing the consensus EPS estimates in each of the trailing four quarters.
For the fiscal year ending December 2024, the company's EPS is anticipated to grow 20% year-over-year to $2.34, while its revenue is expected to increase 6.6% from the prior year period to $385.17 million.
In addition, Street expects its revenue and EPS for the fiscal year 2025 to grow 9.8% and 10.5% from the same period last year to $423.02 million and $2.59, respectively.
Lower-Than-Industry Valuation
In terms of forward non-GAAP P/E, FVRR is currently trading at 10.52x, 45.4% lower than the industry average of 19.28x. Similarly, the stock's forward EV/EBIT and EV/EBITDA multiples of 9.32 and 8.74 are 41.3% and 23.5% lower than the industry averages of 15.88x and 11.42x, respectively.
Additionally, the stock's 1.63x forward EV/Sales is 10.4% lower than the industry average of 1.82x.
High Profitability
FVRR's trailing-12-month gross profit margin of 83.34% is 165.7% higher than the 31.36% industry average. Likewise, its trailing-12-month levered FCF margin of 18.49% is 181.8% higher than the industry average of 6.56%.
POWR Ratings Reflect Promise
FVRR's promising outlook is reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to Buy in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories.
FVRR boasts an A grade for Growth, consistent with its solid financial performance in the last reported quarter. Additionally, its B grade for Value and Quality is in sync with its discounted valuation and robust profitability.
The stock is ranked #7 in the <a href="https://stocknews.com/category/internet/">Internet</a> industry. <a href="https://stocknews.com/stock/FVRR/">Click here</a> to access FVRR's Momentum, Stability, and Sentiment ratings.
Bottom Line
The global gig economy isn't just a passing trend; it's on track to become a <a href="https://ssir.org/articles/entry/gig-economy-startups-workers#:~:text=The%20global%20gig%20economy%20is,workers'%20increasing%20demands%20for%20flexibility.">nearly $2 trillion</a> industry by 2031. With a global job shortage and the rising demand for flexible work, gig platforms are thriving. As of March 2024, <a href="https://institute.bankofamerica.com/content/dam/economic-insights/consumer-morsel-gig-economy-is-up.pdf">over 3.8%</a> of Bank of America customers received income from gig platforms, surpassing previous highs. Moreover, the share of gig workers earning monthly income has steadily increased since 2021, underscoring the increasing commitment to freelance work.
As the gig economy continues to grow, FVRR is well-positioned to benefit. With strong financials, increasing profitability, and a bright long-term growth outlook, it could be wise to invest in this stock.
How Does Fiverr International Ltd. (FVRR) Stack Up Against Its Peers?
While FVRR has an overall grade of B, equating to a Buy rating, you may also check out these other stocks within the <a href="https://stocknews.com/category/internet/">Internet</a> industry: Meituan (<a href="https://stocknews.com/stock/MPNGY/">MPNGY</a>), Dingdong (Cayman) Limited (<a href="https://stocknews.com/stock/DDL/">DDL</a>), and Yelp Inc. (<a href="https://stocknews.com/stock/YELP/">YELP</a>), carrying A (Strong Buy) or B (Buy) ratings. To explore more Internet stocks, <a href="https://stocknews.com/category/internet/">click here</a>.
What To Do Next?
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<hr />
FVRR shares were trading at $25.40 per share on Friday afternoon, up $0.79 (+3.21%). Year-to-date, FVRR has declined -6.69%, versus a 19.17% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/fvrr-mpngy-ddl-yelp-is-fiverr-a-good-stock-to-watch-as-gig-economy/>Is Fiverr a Good Stock to Watch as Gig Economy Expands?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Is Fiverr a Good Stock to Watch as Gig Economy Expands?

Amazon (AMZN) performed very well in the last quarter with strategic partnerships, the introduction of new capabilities, and strong sales growth. Also, looking ahead, the company's prospects are bright, with the upcoming holiday season likely to spike consumer spending. So, let's determine whether Amazon is an ideal addition to your portfolio. Read more to find out... Amazon.com, Inc. (<a href="https://stocknews.com/stock/AMZN/">AMZN</a>) engages in the retail sale of consumer products, advertising, and subscription services through online and physical stores.
Ahead of the holiday season, AMZN introduced various initiatives, including Business Prime Rewards and a significant discount to Business Prime Essentials membership, which will exclusively benefit Business Prime members. Also, the company's Prime Big Deal Days sale will open on October 8 - 9, where Prime Members will have exclusive access to millions of early holiday deals.
During the second quarter, Amazon entered into a strategic partnership with Intel Corporation to advance U.S.-based chip manufacturing. The coe 4vmpany also collaborated with Oracle Corporation for the launch of a new service, Oracle Database@AWS, enabling customers to access Oracle Autonomous Database.
Also, buy with Prime and Amazon multi-channel fulfillment recently expanded with its new capabilities and more brands. These new capabilities are part of AMZN's focus on innovating in order to help businesses of all sizes increase their sales on their own online stores and other channels beyond Amazon.com.
The company reported its second-quarter results, where its AWS segment sales rose 18.7% year-over-year to $26.28 billion, and its total net sales were $147.98 billion.
Buoyed by the company's last quarter performance, AMZN has provided the following guidance for the fiscal 2024 third quarter. It expects net sales between $154 billion and $158.50 billion. The company's operating income is expected to be between $11.50 billion and $15 billion.
Shares of AMZN have surged 4.2% over the past month and 43% over the past year to close its last trading session at $185.13.
Let's look at factors that could influence AMZN's performance in the upcoming months.
Positive Recent Developments
On September 16, AMZN's Amazon Web Services. Inc. (AWS) and Intel Corporation (<a href="https://stocknews.com/stock/INTC/">INTC</a>) announced a co-investment to help advance U.S.-based chip manufacturing through a multi-year, multi-billion-dollar arrangement encompassing products and wafers from Intel. Through INTC's state-of-the-art technology, AWS will enhance its performance and efficiency.
The collaboration marked a significant expansion of the two companies' longstanding alliance to help customers power virtually any workload and accelerate the performance of artificial intelligence (AI) applications.
On September 9, AWS entered into a strategic partnership with Oracle Corporation (<a href="https://stocknews.com/stock/ORCL/">ORCL</a>) to launch Oracle Database@AWS, a new service enabling customers to access Oracle Autonomous Database on dedicated infrastructure and Oracle Exadata Database Service within AWS.
By integrating ORCL's services, AWS can enhance its cloud infrastructure, attracting more customers seeking robust database solutions. This further strengthens AMZN's position in the cloud market, driving growth and broadening its service capabilities.
Robust Financials
AMZN's total net sales increased 10.1% year-over-year to $147.98 billion during the second quarter that ended June 30, 2024. Its operating income grew 91% from the year-ago value to $14.67 billion. The company's income before income taxes of $15.24 billion reflects a growth of 101.6% from the prior-year quarter.
In addition, the company's net income and EPS came in at $13.48 billion and $1.26, indicating increases of 99.8% and 93.8% from the prior year's quarter, respectively. Its free cash flow was $52.97 million for the quarter, up from $7.88 billion during the prior year's quarter.
Also, as of June 30, 2024, the company's total assets stood at $554.82 billion, compared to $527.85 billion as of December 31, 2023.
Solid Historical Growth
AMZN's revenue and EBITDA have grown at respective CAGRs of 10.9% and 20.6% over the past three years. The company's EBIT has increased at a CAGR of 22.4% over the same timeframe, while its net income and EPS have improved at CAGRs of 14.7% and 13.3%, respectively.
Also, the company's tangible book value and total assets have grown at CAGRs of 29% and 15.5% over the past three years, respectively.
Favorable Analyst Estimates
Analysts expect AMZN's revenue for the third quarter (ended September 2024) to increase 9.9% year-over-year to $157.18 billion. The consensus EPS estimate of $1.13 for the same quarter indicates a 20.6% year-over-year improvement. Moreover, AMZN has an impressive earnings surprise history, having topped consensus EPS estimates in each of the trailing four quarters.
For the fiscal year ending December 2024, the company's revenue and EPS are expected to grow 10.5% and 63% year-over-year to $635.38 billion and $4.73, respectively. Also, Street expects its revenue and EPS for the fiscal year 2025 to increase 10.8% and 22.5% year-over-year to $704.27 billion and $5.79, respectively.
High Profitability
AMZN's trailing-12-month EBIT margin of 9% is 13.7% higher than the industry average of 7.91%. Its trailing-12-month net income margin of 7.35% is 60.3% higher than the industry average of 4.59%. Similarly, its trailing-12-month <a href="https://www.investopedia.com/terms/g/gross_profit_margin.asp">gross profit margin</a> of 48.04% is considerably higher than the industry average of 37.13%.
Furthermore, the stock's trailing-12-month ROCE, ROTC, and ROTA of 21.93%, 9.22%, and 8.01% are favorable, compared to the industry averages of 11.26%, 6.17%, and 4.06%, respectively. AMZN's trailing-12-month Leveraged FCF margin of 9.79% is significantly above the 5.10% industry average.
POWR Ratings Reflect Promise
AMZN's solid fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, translating to a Buy in our proprietary system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. AMZN has an A grade for Sentiment, in sync with its favorable analyst estimates.
In addition, the stock has a B grade for Quality, consistent with its higher-than-industry profitability. It also has a B grade for Momentum,
AMZN is ranked #14 in the 52-stock A-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry.
Beyond what I have stated above, we have also given AMZN grades for Value, Growth, and Stability. Get access to all the AMZN Ratings <a href="https://stocknews.com/stock/AMZN/">here</a>.
Bottom Line
Amazon is a well-known multinational company operating as a retail seller of consumer products. The company's strong industry footing worldwide, strategic collaborations, and solid financial performance position it for bright long-term prospects.
Further, as the holiday season nears, the company is all set to benefit from rising consumer spending. Amazon is welcoming the holidays with attractive initiatives and offers that will benefit different sections of its customers.
Given AMZN's solid financials, accelerating profitability, and promising growth outlook, this stock could be an ideal buy now.
How Does Amazon.com, Inc. (AMZN) Stack Up Against Its Peers?
While AMZN has an overall POWR Rating of B, investors could also check out these other stocks within the A-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry with A (Strong Buy) or B (Buy) ratings: Meituan ADR (<a href="https://stocknews.com/stock/MPNGY/">MPNGY</a>), Expedia Group Inc. (<a href="https://stocknews.com/stock/EXPE/">EXPE</a>), and Fiverr International Ltd. (<a href="https://stocknews.com/stock/FVRR/">FVRR</a>).
For exploring more A and B-rated internet stocks, <a href="https://stocknews.com/category/internet/">click here</a>.
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AMZN shares were trading at $185.33 per share on Wednesday afternoon, up $0.20 (+0.11%). Year-to-date, AMZN has gained 21.98%, versus a 20.91% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/amzn-mpngy-expe-fvrr-orcl-intc-should-you-buy-amazon-now-ahead-of-the-holiday-season/>Should You Buy Amazon Now, Ahead of the Holiday Season Surge?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Should You Buy Amazon Now, Ahead of the Holiday Season Surge?

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