Ultime notizie per EchoStar (NASDAQ:SATS) Azioni

EchoStar

Following the Dish Network merger, satellite television provides the bulk of EchoStar's revenue. The firm serves about 6 million us customers, about 10% of the traditional television market. It launched an internet-based television offering under the Sling brand in 2015 and serves about 2 million customers on this platform. EchoStar's future, however, hinges primarily on the wireless business. The firm has amassed an extensive portfolio of spectrum licenses over the past 15 years and is building a nationwide wireless network. It acquired Sprint's prepaid business and serves about 7 million customers, primarily under the Boost brand. EchoStar's legacy businesses provide satellite telecom services and equipment to businesses and consumers, including about 1 million internet customers.

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Scopri i cinque titoli azionari da seguire oggi: EchoStar, Take-Two, American Axle, Doximity e AMC Networks.

Pre-market: 5 titoli da monitorare oggi, 9 agosto 2024

EchoStar Corp

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EchoStar shares are trading higher after the WSJ reported DirecTV is near a deal to acquire the company's Dish and Sling businesses.

DirecTV and Dish Network are reportedly in advanced talks to merge, potentially creating the largest U.S. pay-TV provider, with around 20 million subscribers. If completed, the deal could be announced in the coming days, the Wall Street Journal reported.
According to <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-09-26/directv-dish-are-said-close-to-clinching-merger-agreement" rel="noreferrer noopener">Bloomberg</a>, DirecTV, owned by AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) and TPG Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>), will control the newly formed entity, though details are still under negotiation.
The two companies have been steadily losing customers, with viewers opting for cheaper, more flexible streaming services such as Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).
A merger would help DirecTV and EchoStar Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>), Dish&#8217;s owner, better compete with streaming services while addressing Dish&#8217;s rising debt levels.
Charlie Ergen, co-founder of Dish, has long sought this combination, though regulatory concerns hindered previous merger attempts. However, shifting from traditional pay TV to streaming may change regulators&#8217; stance.
According to the WSJ report, DirecTV currently <a target="_blank" href="https://www.wsj.com/business/media/directv-and-dish-near-deal-that-has-eluded-them-for-years-04238d00?mod=latest_headlines" rel="noreferrer noopener">serves</a> about 11 million customers, while Dish has 8 million, which is down significantly from its peak a decade ago.
The pay-TV industry has faced mounting challenges as viewers transition to streaming, with U.S. subscribers falling from 104 million in 2015 to less than 70 million in 2023. Both companies seek ways to cut costs and adapt to the rapidly evolving entertainment landscape.
A deal would also include Dish&#8217;s streaming brand, Sling TV, offering a broader range of services under the merged entity.
AT&amp;T previously spun off DirecTV in 2021, moving it into a joint venture with TPG. The telecom giant took a $15.5 billion impairment charge in 2020 to account for subscriber losses, while Dish has shifted focus to building a wireless network, accumulating debt in the process.
Regulatory hurdles remain a concern, particularly in rural areas where satellite TV has been a dominant service.
Price Action: At last check Friday, SATS stock was up 4.62% to $26.95&nbsp;during the premarket session. T stock was up 0.18% to $21.69.
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Image via DirecTV

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Struggling Satellite-TV Players DirecTV And Dish Merger Could Be Finalized Soon: WSJ

<a href="https://www.wsj.com/business/media/directv-and-dish-near-deal-that-has-eluded-them-for-years-04238d00" title="https://www.wsj.com/business/media/directv-and-dish-near-deal-that-has-eluded-them-for-years-04238d00">https://www.wsj.com/business/media/directv-and-dish-near-deal-that-has-eluded-them-for-years-04238d00</a>

The Wall Street Journal Reported Thursday, DirecTV Near Deal to Acquire EchoStar's Dish and Sling Businesses

U.S. stocks were mixed, with the Dow Jones index gaining around 200 points on Monday.
Shares of Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) rose sharply during Monday's session after the company agreed to sell its 25.1% joint venture stake in Ma&#8217;aden for $1.1 billion, including $950 million <a href="https://www.benzinga.com/markets/equities/24/09/40873786/alcoa-pockets-1-1b-from-saudi-joint-venture-sale-details">in Ma&#8217;aden shares.</a>
Alcoa shares jumped 6.5% to $34.63 on Monday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Ascendis Pharma A/S (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) shares jumped 19.8% to $142.76 after the company announced topline data from its pivotal approach trial of Transcon CNP (Navepegritide).</li>
<li>Bausch + Lomb Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NASDAQ">BLCO</a>) shares gained 15% to $17.86. Needham reiterated a Hold rating on Bausch &amp; Lomb.</li>
<li>Nuvalent, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUVL#NASDAQ">NUVL</a>) climbed 12.8% to $98.70 after the company highlighted results for its ROS1 and ALK-Positive NSCLC programs and accelerated its development timeline. Also, the company announced a $350 million public offering and multiple firms raised their respective price targets on the stock.</li>
<li>Fitell Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTEL#NASDAQ">FTEL</a>) gained 12.5% to $17.75.</li>
<li>JBDI Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBDI#NASDAQ">JBDI</a>) jumped 11.1% to $29.38.</li>
<li>Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) surged 10.3% to $49.46. Lattice Semiconductor appointed Ford Tamer as CEO, effective immediately.</li>
<li>EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) rose 8.4% to $26.33. Morgan Stanley, on Friday, raised its price target on the stock from $14 to $20.</li>
<li>Stratasys Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSYS#NASDAQ">SSYS</a>) rose 7.9% to $7.61 after the company authorized a share repurchase program of up to $50 million.</li>
<li>Corvus Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRVS#NASDAQ">CRVS</a>) gained 7.5% to $5.48. The announced it initiated the registrational Phase 3 clinical trial of Soquelitinib for patients with relapsed or refractory peripheral T-cell lymphoma.</li>
<li>Viasat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) rose 6.3% to $13.57.</li>
<li>Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) rose 5.5% to $3.1650.</li>
<li>Sprouts Farmers Market, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NASDAQ">SFM</a>) gained 4.2% to $106.42. Evercore ISI Group analyst Michael Morris upgraded Sprouts Farmers Market from In-Line to Outperform and raised the price target from $96 to $120.</li>
</ul>
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Alcoa, Lattice Semiconductor, Stratasys And Other Big Stocks Moving Higher On Monday

EchoStar shares are trading higher after Morgan Stanley raised its price target on the stock from $14 to $20.

Analysts' ratings for EchoStar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) over the last quarter vary from bullish to bearish, as provided by 4 analysts.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $21.0, a high estimate of $37.00, and a low estimate of $12.00. Witnessing a positive shift, the current average has risen by 7.69% from the previous average price target of $19.50.
<img src="https://www.benzinga.com/files/images/story/2024/1726228902_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive EchoStar. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Benjamin Swinburne</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$20.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>John Hodulik</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$15.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Gregory Williams</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Buy</td>
<td>$37.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>Philip Cusick</td>
<td>JP Morgan</td>
<td>Maintains</td>
<td>Underweight</td>
<td>$12.00</td>
<td>$12.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to EchoStar. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of EchoStar compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for EchoStar's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of EchoStar's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/SATS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on EchoStar analyst ratings.</a>
<h2>Get to Know EchoStar Better</h2>
Following the Dish Network merger, satellite television provides the bulk of EchoStar's revenue. The firm serves about 6 million us customers, about 10% of the traditional television market. It launched an internet-based television offering under the Sling brand in 2015 and serves about 2 million customers on this platform. EchoStar's future, however, hinges primarily on the wireless business. The firm has amassed an extensive portfolio of spectrum licenses over the past 15 years and is building a nationwide wireless network. It acquired Sprint's prepaid business and serves about 7 million customers, primarily under the Boost brand. EchoStar's legacy businesses provide satellite telecom services and equipment to businesses and consumers, including about 1 million internet customers.
<h3>Breaking Down EchoStar's Financial Performance</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Negative Revenue Trend: Examining EchoStar's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -9.27% in revenue growth, reflecting a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Communication Services sector.
Net Margin: EchoStar's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of -5.2%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of -1.04%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): EchoStar's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -0.37%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: EchoStar's debt-to-equity ratio is below the industry average. With a ratio of 1.27, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

A Glimpse Into The Expert Outlook On EchoStar Through 4 Analysts

Morgan Stanley analyst Benjamin Swinburne maintains EchoStar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) with a Equal-Weight and raises the price target from $14 to $20.

Price Target

Morgan Stanley Maintains Equal-Weight on EchoStar, Raises Price Target to $20

U.S. stocks were mostly lower, with the Dow Jones index falling around 300 points on Thursday.
Shares of G-III Apparel Group, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIII#NASDAQ">GIII</a>) rose sharply during Thursday's session after the company reported better-than-expected second-quarter adjusted EPS results and issued its FY25 guidance above estimates.
G-III Apparel Group reported second-quarter adjusted earnings per share of 52 cents, beating the analyst consensus of 27 cents. Quarterly revenues of $644.75 million (down 2%) missed the street view of $649.44 million.
G-III Apparel Group shares surged 23.6% to $30.95 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Applied Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) shares jumped 68.1% to $5.45 after the company entered agreements for a $160 million private placement financing priced at market, from a group of institutional and accredited investors including NVIDIA and Related Companies.</li>
<li>EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) gained 14.9% to $21.15.</li>
<li>Larimar Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRMR#NASDAQ">LRMR</a>) climbed 13.5% to $8.81.</li>
<li>Uniti Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNIT#NASDAQ">UNIT</a>) rose 13.3% to $5.32.</li>
<li>Yext, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YEXT#NYSE">YEXT</a>) climbed 13% to $5.56 after the company reported better-than-expected second-quarter adjusted EPS results and issued FY25 revenue guidance above estimates. Also, Needham upgraded the stock from Hold to Buy and announced an $8 price target.</li>
<li>Perpetua Resources Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPTA#NASDAQ">PPTA</a>) rose 11.8% to $9.05 after the company announced the U.S. forest service has completed the final environmental impact statement and issued a draft record of decision authorizing the Stibnite gold project.</li>
<li>Vestis Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSTS#NYSE">VSTS</a>) gained 11.7% to $15.28 following a report suggesting Elis SA made an offer to buy the company.</li>
<li>WK Kellogg Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLG#NYSE">KLG</a>) climbed 10.7% to $18.63.</li>
<li>NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) gained 10.4% to $4.6850 after the company reported second-quarter financial results and issued better-than-expected third-quarter outlook..</li>
<li>Shoe Carnival, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCVL#NASDAQ">SCVL</a>) rose 10% to $41.32 after the company reported better-than-expected second-quarter revenue results. Also, the company raised its FY24 guidance.</li>
<li>Primo Water Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRMW#NASDAQ">PRMW</a>) gained 9.4% to $23.92.</li>
<li>QuidelOrtho Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QDEL#NASDAQ">QDEL</a>) gained 8.5% to $43.79. Craig-Hallum analyst Alexander Nowak upgraded QuidelOrtho from Hold to Buy and raised the price target from $40 to $57.</li>
<li>Polestar Automotive Holding UK PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>) gained 8.3% to $1.3095.</li>
<li>Myriad Genetics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYGN#NASDAQ">MYGN</a>) gained 7.9% to $27.36.</li>
<li>Zeta Global Holdings Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZETA#NYSE">ZETA</a>) gained 7.8% to $26.83. Zeta Global priced $204.9 million public offering of 13.2 million class A common shares at $23.50 per share.</li>
<li>Sotera Health Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHC#NASDAQ">SHC</a>) gained 7.7% to $16.59. The company announced a secondary offering of 25 million shares.</li>
<li>Dollar Tree, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) rose 6.2% to $67.52. Dollar Tree, on Wednesday, reported worse-than-expected second-quarter 2024 earnings.</li>
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G-III Apparel Posts Upbeat Results, Joins NIO, Yext, Shoe Carnival And Other Big Stocks Moving Higher On Thursday

<a href="https://www.bloomberg.com/news/articles/2024-09-05/dish-network-in-talks-with-investors-to-settle-lawsuit?srnd=phx-fixed-income">https://www.bloomberg.com/news/articles/2024-09-05/dish-network-in-talks-with-investors-to-settle-lawsuit?srnd=phx-fixed-income</a>
&nbsp;
<a href="https://www.bloomberg.com/quote/DISH:US">Dish Network Corp.</a>, the ailing satellite-TV provider with more than $20 billion in debt, is in talks with a group of creditors to resolve a lawsuit tied to a controversial transfer of assets.
A meeting between the company and investors represented by <a href="https://www.bloomberg.com/quote/LAZ:US">Lazard Inc.</a> and <a href="https://www.bloomberg.com/quote/1174L:US">Milbank</a> could take place as soon as this week, according to people familiar with the matter, who asked not to be named because they aren't authorized to talk about it. Confidential negotiations also include the possible extension of a $2 billion bond due Nov. 15, they said.

Legal

'Dish Network In Talks With Investors To Settle Lawsuit; Company Is Holding Confidential Talks With Some Creditors; Satellite Television Company Shuffled Assets In January' - Bloomberg News

EchoStar Corporation&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sats#NASDAQ">SATS</a>) subsidiaries, Hughes Network Systems and Boost Mobile, jointly demonstrated optimized, multi-transport network management for the U.S. Navy. The demonstration, conducted earlier this year, evaluated remote network orchestration, wide area network (WAN) resiliency and secure Radio Access Network (RAN) sharing between standalone Private 5G networks at the U.S. Navy Air Station in Whidbey Island, WA, and a base in Hawaii.
The demo established that the EchoStar Private 5G ORAN network can sustain safe connectivity for devices and applications when users move from the naval base. This capability enables devices connected to the Whidbey Island NAS 5G network to securely access applications located at Whidbey Island, regardless of their location. This secure Internet access supports Navy missions that involve relocating users between bases.
Boost Mobile&#39;s advanced Open-RAN-based 5G networking technologies, designed for U.S.-wide public network deployment, laid the foundation for secure, standalone 5G networks at each base. Hughes also deployed its intelligent network orchestration capabilities, including Smart Network Edge mission-planning technology and Network Management System (NMS). Combined, these technologies ensured reliable communication even in &quot;contested and congested environments.&quot;
The network also facilitated Automated Primary Alternate Contingency Emergency (PACE) planning by harnessing Hughes&#39; NMS and SNE technologies, which dynamically use multiple transport paths to enhance situational awareness. These automation techniques optimize capacity, quality of service and resource allocation, accelerating changes and access to SATCOM resources. With command-in-the-loop capability, Hughes technology processes new service requests in under five seconds to address emerging threats and automatically distributes information across orchestrated paths. The NMS and SNE are essential for maintaining resilient communications through diverse transports, including geostationary equatorial orbit, medium-earth orbit, low-earth orbit and 5G systems.
Earlier this month, Hughes Network Systems LLC achieved a milestone of shipping more than 5,000 HL1120W electronically steerable antenna LEO terminals, underscoring its leadership in delivering top-tier, enterprise-class satellite terminals for the Eutelsat OneWeb LEO constellation.
<div class="chart_embed">
<h3>EchoStar Corporation Price and Consensus</h3>
<img alt="EchoStar Corporation Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/d0/1724942318.png" style="height:265px; width:578px" title="" />
EchoStar Corporation price-consensus-chart | EchoStar Corporation Quote
EchoStar is a global provider of satellite service operations, video delivery services, broadband satellite technologies and broadband Internet services for home and small office customers.
</div>
The company reported second-quarter 2024 revenues of $3.96 billion, declining 9% year over year, missing the consensus estimate by 0.6%. Net subscriber losses in Pay-TV, Retail Wireless, Broadband and satellite services contributed to the drop. It reported a non-GAAP loss of 76 cents per share against earnings of 69 cents in the year-ago quarter, and the loss was 105.4% wider than the Zacks Consensus Estimate of a loss of 37 cents.
<h2>SATS&#39; Zacks Rank &amp; Stock Price Performance</h2>
At present, SATS has a Zacks Rank #5 (Strong Sell). Shares have gained 10.9% against the sub-industry&#39;s decline of 30.2% in the past year.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/1f/75976.jpg?v=470235090" /> 
Image Source: Zacks Investment Research
<h2>Stocks to Consider</h2>
Some better-ranked stocks from the broader technology space are Manhattan Associates, Inc., ANSYS, Inc. and Adobe Inc.&nbsp;MANH presently sports a Zacks Rank #1 (Strong Buy) each, whereas ANSS &amp; ADBE carry a Zacks Rank #2 (Buy).
Manhattan Associates delivered an earnings surprise of 26.6%, on average, in the trailing four quarters. In the last reported quarter, MANH pulled off an earnings surprise of 22.9%. The Zacks Consensus Estimate for MANH increased 9.2% in the past 60 days to $4.26.
ANSYS delivered an earnings surprise of 4.8%, on average, in three of the trailing four quarters. In the last reported quarter, ANSS pulled off an earnings surprise of 28.9%. It has a long-term earnings growth expectation of 6.4%.
Adobe delivered an earnings surprise of 2.7%, on average, in the trailing four quarters. In the last reported quarter, ADBE pulled off an earnings surprise of 2.1%. It has a long-term earnings growth expectation of 13%.
<a href="https://www.zacks.com/stock/news/2329118/echostar-s-hughes-boost-mobile-exhibit-resilient-network-management?cid=CS-BENZ-FT-analyst_blog|company_news_tech_sector-2329118">To read this article on Zacks.com click here.</a>

Mid Cap

Small Cap

Echostar's Hughes & Boost Mobile Exhibit Resilient Network Management

EchoStar shares are trading higher. UBS raised its price target on the stock from $14 to $15.

UBS analyst John Hodulik maintains EchoStar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) with a Neutral and raises the price target from $14 to $15.

UBS Maintains Neutral on EchoStar, Raises Price Target to $15

EchoStar shares are trading lower after JP Morgan downgraded the stock from Neutral to Underweight and TD Cowen lowered its price target from $38 to $37.

TD Cowen analyst Gregory Williams maintains EchoStar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) with a Buy and lowers the price target from $38 to $37.

TD Cowen Maintains Buy on EchoStar, Lowers Price Target to $37

JP Morgan analyst Philip Cusick downgrades EchoStar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) from Neutral to Underweight and maintains the price target from $12 to $12.

Downgrades

JP Morgan Downgrades EchoStar to Underweight, Maintains Price Target to $12

After a blistering Thursday that saw the S&amp;P 500 close with its best session in nearly two years — up 2.3% — Wall Street&#8217;s price action turned sluggish on a Friday lacking <a href="https://www.benzinga.com/topic/interest-rates">market-moving economic events.</a>
By midday in New York, major indices were slightly positive or hovering around the flat line, signaling a slowdown in the bullish sentiment compared to the previous session.
Since the beginning of the week, the S&amp;P 500 is down 0.5%, with a few hours of trading left to determine whether the U.S. stock market can avoid closing in the red for the fourth consecutive week.
Meanwhile, there's a renewed demand for long-dated U.S. Treasury bonds, with yields declining by about 6 basis points on both the 10-year and 30-year notes. As a result, the popular iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rallied 1%, snapping a three-session losing streak.
The dollar slightly weakened, slipping 0.5% against the Japanese yen after three consecutive days of gains.
Traders now see nearly equal odds of a 50-basis-point or a 25-basis-point rate cut by the Federal Reserve in September, according to the CME Group&#8217;s FedWatch tool.
In commodities, oil is up 0.7%, with West Texas Intermediate (WTI) light crude poised for its third consecutive session of gains.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) plunged 2% after rallying nearly 12%, marking its best-performing day since February 2022.
<h1 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,329.24</td>
<td>0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,426.22</td>
<td>0.1 %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,435.12</td>
<td>0.0%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,075.91</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
</figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080924&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;rose 0.2% to $531.66.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was flat at $394.74.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% higher to $448.94.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.5% to $205.88.</li>
<li>The Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) outperformed, up by 0.4%. The Industrial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) lagged, down by 0.2%.</li>
</ul>
<h1 class="wp-block-heading">Friday&#8217;s Stock Movers</h1>
<ul>
<li>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) climbed 1.5%, building on the previous day&#8217;s 11% surge following the announcement of a partnership with Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) to deliver advanced cloud, artificial intelligence, and analytics capabilities to U.S. defense and intelligence agencies. Shares of Palantir are on track to close at the highest level since February 2021.</li>
<li>Eli Lilly &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) surged over 6% after several investment banks raised their price targets, following a strong earnings report last quarter. </li>
<li>Cisco Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) declined over 1% after revealing plans for thousands of job cuts, marking its second round of layoffs this year, as the company redirects its focus toward fast-growing sectors such as cybersecurity and artificial intelligence, Reuters reported.</li>
</ul>
Stocks reacting to company earnings are:
<ul>
<li>Akamai Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>) up 10%,</li>
<li>CarGurus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARG#NASDAQ">CARG</a>) up 18%, </li>
<li>Dropbox, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBX#NASDAQ">DBX</a>) up 2.3%,</li>
<li>elf Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) down 15%,</li>
<li>Evergy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVRG#NASDAQ">EVRG</a>) down 0.7%,</li>
<li>Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) up 9%,</li>
<li>Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>) down 26%,</li>
<li>Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) down 3%,</li>
<li>Insulet Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PODD#NASDAQ">PODD</a>) down over 7%,</li>
<li>New Fortress Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>) down 26%,</li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) up 0.5%,</li>
<li>Take-Two Interactive Software, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>) up 2.5%,</li>
<li>Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) up 9.7%,</li>
<li>Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) up 11%,</li>
<li>Yelp Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>) up 2.6%. </li>
</ul>
Read Now:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40284699/wall-street-shifts-to-bossing-the-fed-into-big-rate-cuts-after-bank-of-japans-polic">Wall Street Shifts To &#8216;Bossing The Fed Into Big Rate Cuts&#8217; After Bank Of Japan&#8217;s Policy U-Turn, Analyst Says</a></li>
</ul>
Photo: Shutterstock

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

Cryptocurrency

Equities

Bonds

Broad U.S. Equity ETFs

Commodities

Economics

Federal Reserve

ETFs

$BTC

AKAM

CARG

CSCO

SPDR Dow Jones Industrial Average ETF Trust

EVRG

EXPE

FIVN

GILD

MSFT

PARA

PLTR

PODD

iShares Trust Barclays 20+ Year Treasury Bond Fund

YELP

Wall Street Momentum Stalls After Thursday's Rally, Palantir Jumps To 3-Year Highs, Bonds Rally: What's Driving Markets Friday?

U.S. stocks traded lower midway through trading, with the Dow Jones falling around 0.1% on Friday.
The Dow traded down 0.12% to 39,399.04 while the NASDAQ fell 0.20% to 16,626.36. The S&amp;P 500 also fell, dropping, 0.02% to 5,318.02.
Leading and Lagging Sectors Health care shares climbed by 0.3% on Friday.
In trading on Friday, communication services shares fell 0.6%.
Top Headline 
Shares of EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) dipped around 16% on Friday after the company reported worse-than-expected second-quarter financial results..
The company reported a second-quarter loss per share of 76 cents, which missed the street view of 17 cents loss. Quarterly revenues of $3.953 billion missed the analyst consensus of $3.983 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>FSD Pharma Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUGE#NASDAQ">HUGE</a>) shares shot up 227% to $0.2995.</li>
<li>Shares of Iteris, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITI#NASDAQ">ITI</a>) got a boost, surging 63% to $6.98 after the company announced it will be acquired by Almaviva for $335 million.</li>
<li>Hyzon Motors Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>) shares were also up, gaining 36% to $0.1167. Hyzon will host a conference call to discuss its second quarter earnings results on Tuesday, Aug. 13.</li>
</ul>
Equities Trading DOWN
<ul>
<li>AN2 Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANTX#NASDAQ">ANTX</a>) shares dropped 60% to $1.05 after the company announced that it will discontinue its EBO-301 study following topline results from its Phase 2 part of the study in treatment-refractory patients with MAC lung disease.</li>
<li>Shares of Vicinity Motor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEV#NASDAQ">VEV</a>) were down 56% to $0.1335. Vicinity Motor will release financial results for the second quarter, after the closing bell on Wednesday, Aug. 14.</li>
<li>Meta Materials Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMAT#NASDAQ">MMAT</a>) was down, falling 50% to $1.0340 after the company disclosed in an SEC filing that it ceased operations and filed a voluntary petition for relief under the provisions of Chapter 7 of Title 11 in the US Bankruptcy Court.</li>
</ul>
Commodities In commodity news, oil traded up 0.6% to $76.61 while gold traded up 0.3% at $2,470.40.
Silver traded down 0.5% to $27.48 on Friday, while copper rose 0.9% to $3.9930.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.57%, Germany's DAX rose 0.24% and France's CAC 40 rose 0.31%. Spain's IBEX 35 Index rose 0.76%, while London's FTSE 100 rose 0.28%.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Japan's Nikkei 225 gaining 0.56%, Hong Kong's Hang Seng Index gaining 1.17%, China's Shanghai Composite Index falling 0.27% and S&amp;P BSE Sensex gaining 1.04%.
Economics
The Baker Hughes rig count report for the latest week will be released today.
Now Read This: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40253347/top-3-utilities-stocks-that-could-lead-to-your-biggest-gains-this-month">Top 3 Utilities Stocks That Could Lead To Your Biggest Gains This Month</a></li>
</ul>

Eurozone

ANTX

MASSIVE INTERACTIVE NV by Massive Interactive, Inc.

HUGE

HYZN

MMAT

US Stocks Edge Lower; EchoStar Shares Tumble After Q2 Results

EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Friday.</a>
The company reported a second-quarter loss per share of 76 cents, which<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40281138/echostar-announces-financial-results-for-the-three-and-six-months-ended-june-30-2024" rel="noreferrer noopener"> missed the street view of 17 cents loss</a>. Quarterly revenues of $3.953 billion <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">missed the analyst consensus of $3.983 billion</a>.
Service revenue decreased to $3.742 billion from $4.088 billion a year ago. Net Pay-TV subscribers decreased approximately 104,000 in the second quarter, compared to 294,000 in the year-ago quarter.&nbsp;
The change in net Pay-TV subscriber losses resulted from SLING TV subscriber additions in the&nbsp;quarter&nbsp;compared to losses in the year-ago quarter and a decrease in net DISH TV subscriber losses due to a lower DISH TV churn rate, offset by lower gross new DISH TV subscriber&nbsp;activations.
The company closed the quarter with 8.07 million Pay-TV subscribers, including 6.07 million DISH TV subscribers and 2.00 million SLING TV subscribers.
&#8220;We directed efforts on aligning key business synergies and objectives, focusing on profitable customer acquisition and retention efforts, and making improvements in our go-to-market approach for Retail Wireless,&#8221; said&nbsp;Hamid Akhavan, president and CEO of EchoStar.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40281216/nasdaq-s-p-500-futures-climb-after-thursdays-strong-rebound-bitcoin-sizzles-analyst-predicts-a-roll" rel="noreferrer noopener">Nasdaq, S&amp;P 500 Futures Climb After Thursday&#8217;s Strong Rebound, Bitcoin Sizzles: Analyst Predicts A Roller Coaster Ride For Stocks Until This Happens</a>
Retail Wireless net subscribers decreased by approximately 16,000 in the second quarter, compared to 188,000 in the year-ago quarter.&nbsp;
&#8220;We are in constructive discussions to address necessary financing, working to strengthen our consumer offerings and value propositions, enhancing our state-of-the-art Open RAN network, and driving profitability across the enterprise,&#8221; Akhavan added.
The company exited the quarter with cash <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">and equivalents worth $546.6 million.</a>
Price Action: SATS shares are trading lower by 15.8% to $16.91 at last check Friday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40278776/as-nvidia-leads-magnificent-7-volatility-analyst-says-these-mega-caps-are-poised-to-outperform-s" target="_blank" rel="noreferrer noopener">As Nvidia Leads Magnificent 7 Volatility, Analyst Says These Mega-Caps Are Poised To Outperform Small-Caps — But There&#8217;s A Catch</a></li>
</ul>

EchoStar Reports Q2 Loss; Pay-TV Subscribers Drop Sharply

EchoStar shares are trading lower after the company reported worse-than-expected Q2 financial results.

Sentiment continues to remain upbeat as <a href="https://www.benzinga.com/news/earnings/24/08/40157665/nasdaq-r2k-futures-tumble-over-4-vix-spikes-over-100-bitcoin-plunges-hard-as-global-sell-off-deepen">stocks look to close out a volatile week</a> on a positive note. The major index futures traded modestly higher in early trading, and given the absence of any major catalysts, the market could most likely consolidate its recent gains. Traders may dread to take huge positions ahead of next week&#8217;s inflation reports and retail sales data.
The CBOE Volatility Index, commonly called VIX, fell toward the 23 level, extending its slide from Thursday. The yen has strengthened slightly against the greenback, potentially stirring anxiety among traders. Bond yields are flatlining, while the rest of global markets have fed off the strength of Wall Street. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.24%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.14%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.03%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.40%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">In premarket trading on Friday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.17% to $531.54, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.34% to $449.61, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Last Session:
U.S. stocks turned in a stellar performance on Thursday, as a report showing a bigger-than-expected decline in jobless claims, some positive earnings reports and the yen&#8217;s weakness set in motion a wave of buying in beaten-down stocks. The jobless claims data mitigated concerns regarding the weakening of the labor market and in turn, allayed recession worries.
The averages opened higher, moved roughly sideways and took a leg-up in the afternoon before moving sideways yet again. The S&amp;P 500 had the best outing since Nov. 30, 2022, in terms of the percentage of gains, according to Marketwatch.
The buying was across the board, with IT stocks spearheading the advance.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+2.87%</td>
<td>16,660.02</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+2.30%</td>
<td>5,319.31</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+1.76%</td>
<td>39,446.49</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+2.42%</td>
<td>2,084.42</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> Insights From Analysts: Fund manager Louis Navellier expects the volatility to persist in August. The month is marked by &#8220;gyrations&#8221; and &#8220;air pockets,&#8221; he said, adding that this is attributable to &#8220;many Wall Street pros, plus Europe&#8221; being on vacation. &#8220;Low trading volume in August provides fertile ground for wild market gyrations like Monday's,&#8221; Navellier said. &#8220;So I am expecting this down, up, down market action to persist until the trading volume is exhausted,&#8221; he added. David Sadkin, President at Bel Air Investment Advisors, said the markets appear to be entering into a correction phase, with the much-loved tech sector leading the way. The strategist is sanguine, as he pointed to the economy, which while slowing, is continuing to expand, the better-than-expected European GDP growth and robust earnings growth. He expects the market to end higher by year-end. If the economy does slow, the Fed has leeway to cut rates and boost liquidity by other means to cushion any potential downside, Sadkin said. &#8220;Also, as we get more clarity on the geopolitical and the US political landscape, the market will likely settle down and continue its upward trajectory,&#8221; he said. &#8220;Long-term investors will weather a slowdown by remaining dispassionate and focusing on fundamentals rather than market panic.&#8221; Upcoming Economic Data: There are no major economic data/events scheduled for the day. See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a> Stocks In Focus: Akamai Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>) climbed about 7.5% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the announcement of its quarterly results. The other stocks moving on earnings are CarGurus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARG#NASDAQ">CARG</a>) (up over 11.5%), e.l.f. Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) (down over 9%), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) (up over 10.50%), Doximity, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCS#NYSE">DOCS</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>) (down over 15%), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) (up over 6%), Take-Two Interactive Software, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>) (up over 6%), and Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) (up over 7%). American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) and EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) are among the key companies due to <a href="https://www.benzinga.com/calendars/earnings">release their earnings reports ahead of the market opening</a>. Commodities, Bonds And Global Equity Markets: Crude oil as well as gold futures extended their gains and the 10-year Treasury note yield slipped 4.2 points to 3.957%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rallied strongly toward the $60.5K mark. Taking cues from the U.S. market, stocks in Asia closed mostly higher, with the tech-heavy Taiwanese market leading the gains. The Chinese market retreated on inflation data that came in more than expected and the New Zealand market also settled modestly lower, while the Singaporean market was closed for a public holiday. European stocks were higher in early trading. Read Next:<a href="https://www.benzinga.com/markets/equities/24/08/40278776/as-nvidia-leads-magnificent-7-volatility-analyst-says-these-mega-caps-are-poised-to-outperform-s"> As Nvidia Leads Magnificent 7 Volatility, Analyst Says These Mega-Caps Are Poised To Outperform Small-Caps — But There&#8217;s A Catch</a></figcaption></figure>
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