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There Are A Lot Of Muni Bonds In This New ETF

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PowerShares Insured New York Municipal Bond Portfolio

Trump Claims Puerto Rico&#39;s Bond Debt Will Be &#39;Wiped Out,&#39; Here&#39;s Who&#39;d Lose Big

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Market Vectors Pre-Refunded Municipal Index ETF

PowerShares Insured California Municipal Bond Portfolio

PowerShares Insured Municipal Bond Portfolio

Puerto Rico&#39;s Debt Crisis: How It Happened And Why A $1 Billion Default Is Coming Friday

Guggenheim analyst John Heinbockel maintains Five Below (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) with a Buy and lowers the price target from $230 to $165.

Price Target

FIVE

Guggenheim Maintains Buy on Five Below, Lowers Price Target to $165

Company restructures executive compensation and reduces external consulting fees &nbsp;
Expects to reduce cash used in operations by 30% (Approximately $500,000) by end of 2024
Company to continue to invest in sales personnel and global distribution network to expand product reach
FREDERICK, Md., June 06, 2024 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.&#xAE; ("TOMI") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TOMZ#NASDAQ">TOMZ</a>), a global company specializing in disinfection and decontamination utilizing its premier Binary Ionization Technology (BIT) platform through its SteraMist brand of products, today announced comprehensive cost reduction initiatives to align the Company's cost structure with targeted profitability objectives.

Management

TOMZ

TOMI Environmental Solutions Executives Will Reduce Their Compensation By 30% Of Their Current Cash Compensation For The Remainder Of 2024; Says "This Summer, The Company Anticipates Securing A Significant Contract"

WIIM

QuantaSing Group shares are trading lower. The company reported Q3 financial results.

Guidance

Tomi Environmental Solutions Announces Cost Reduction Efforts To Sustain Long Term Growth And Achieve Profitability; Expects To Reduce Cash Used In Operations By ~$500,000 By End Of 2024; To Continue To Invest In Sales Personnel And Global Distribution Network To Expand Product Reach

MCRB

Seres Therapeutics shares are lower higher after the company entered a memorandum of understanding with Nestlé Health Science for the sale of its VOWST assets. The stock initially traded higher, but it has since reversed.

MRVL

Marvell Technology shares are trading lower as chip stocks pull back after gaining on Wednesday.

The Toro Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTC#NYSE">TTC</a>) shares are trading higher after the company reported <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/b39204551/the-toro-company-reports-results-for-the-second-quarter-of-fiscal-2024" rel="noreferrer noopener">second-quarter FY24 results</a>.
Sales increased 1% Y/Y to $1.35 billion, beating the consensus of $1.343 billion.
Sales by segments: Professional $1.006 billion (-5.9% Y/Y), and Residential $335.6 million (+26.3 Y/Y).
Adjusted gross margin contracted to 33.6% from 35.8% a year ago due to a change in product mix and higher material and manufacturing costs.
Adjusted operating margin declined to 14.2% from 16.3% the prior year. Adjusted EPS of $1.40 (-11% Y/Y) surpassed&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">the consensus of $1.29</a>.
As of May 3, cash and equivalents stood at $188.8 million.
Richard M. Olson, chairman and chief executive officer, said, &#8220;We realized exceptional growth in our residential segment due to our strong mass channel, successful new product introductions, and better weather conditions compared to last year.&#8221;
&#8220;Importantly, we made significant progress in reducing dealer field inventories of lawn care equipment in both the residential and professional segment, a result of lower shipments to that channel, coupled with spring retail momentum.&#8221;
FY24 Outlook: Toro continues to expect low-single-digit total company net sales growth and adjusted EPS of $4.25-$4.35&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">(vs. consensus: $4.26)</a>.
Olson added, &#8220;We expect continued growth in shipments to our residential segment mass channel, and anticipate this growth will help offset our expectations for lower preseason shipments of snow and ice management products given the lack of snow this past winter.&#8221;
Investors can gain exposure to the stock via MarketDesk Focused U.S. Dividend ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDIV#NASDAQ">FDIV</a>) and VanEck Agribusiness ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOO#NYSE">MOO</a>).
Price Action: TTC shares are up 12.77% at $89.81 at the last check Thursday.

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Why Outdoor Equipment Products Provider Toro Shares Are Surging Today

MLGO

MicroAlgo shares are trading lower after the company announced that it entered into convertible note purchase agreements with certain investors.

SMCI

Super Micro Computer shares are trading lower following recent strength.

Iris Energy Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>) stock is trading higher. The company on Thursday issued its <a href="https://www.benzinga.com/pressreleases/24/06/g39204510/may-2024-monthly-investor-update">monthly operations update</a>.
The Details: Iris Energy announced that it mined 230 Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in May, down from 358 in April and 353 in March. The lower mining total was due to reduced block subsidy following April&#8217;s halving event.
Iris said it had an average operating hashrate of 9.4 EH/s in May. That number is up to 10 EH/s as of the time of the release. The company also increased its 2024 expansion plans to 30 EH/s after securing an order for the latest-generation Bitmain S21 miners. Iris also noted that it has miners secured to support 40 EH/s in the first half of 2025.
In terms of AI cloud services, Iris highlighted that it had 816 NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) H100 GPUs operating in May, which generated between an estimated $14 million and $17 million in annualized hardware profit. 
Iris noted that it&#8217;s engaged in ongoing conversations with respect to both cloud and colocation solutions. The company also said it&#8217;s exploring growth financing opportunities. Iris currently has $322 million in cash, up from $259.7 million as of March 31.
Iris Energy&#8217;s Analyst Day and Investor Event is scheduled for July 23. 
Related Link: <a href="https://www.benzinga.com/insights/options/24/06/39210377/nextera-energy-unusual-options-activity-for-june-06'">NextEra Energy Unusual Options Activity For June 06</a>
IREN Price Action: Iris Energy shares were up 11.9% at $10.12 at the time of publication, per data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Image via Shutterstock.

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

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NVDA

Bitcoin Mining Stock Iris Energy Is Trading Higher: What's Going On?

GLJ Research analyst Gordon Johnson downgrades Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) from Buy to Sell and announces $10.13 price target.

Downgrades

GLJ Research Downgrades Cleveland-Cliffs to Sell, Announces $10.13 Price Target

CERO

CERo Therapeutics Holdings shares are trading lower. The company announced the completion of toxicology studies for lead compound CER-1236.

Dynex Capital shares are trading lower after the company priced a $126 million offering.

<h2 class="single-author">By <a href="https://elplanteo.com/author/lucia-tedesco/" target="_blank">Luc&iacute;a Tedesco</a> via <a href="https://elplanteo.com/botanicanns-cannabis-medicinal-argentina-gacp/" target="_blank">El Planteo</a></h2>
<a href="https://elplanteo.com/botanicanns-cannabis-medicinal-argentina-gacp/">Botanicanns</a> SA, an Argentinian <a href="https://www.benzinga.com/cannabis">cannabis company</a>, has become the first in the country to receive Good Agricultural and Collection Practices (GACP) certification for medicinal plants under the standards set by the World Health Organization (WHO) and the EMEA region (Europe, Middle East, and Africa). This prestigious certification allows Botanicanns to export its products to Europe, opening new opportunities in the international market.
See also: <a href="https://www.benzinga.com/markets/cannabis/24/06/39173275/argentina-targets-europe-with-major-cannabis-export-deals">Argentina Targets Europe With Major Cannabis Export Deals</a>
GACP Certification: A Mark Of Excellence
The GACP certification ensures that Botanicanns&#39; entire production process, from seed to final product, meets the rigorous international standards necessary for the medicinal use of cannabis. This certification is a significant milestone, enabling the company to enter the European market and solidify its position on the global stage.
Building A Strong Domestic Industry
In an interview with <a href="https://elplanteo.com/">El Planteo</a>, Alejandro Mancuso, director of Botanicanns, emphasized the importance of strengthening the domestic industry: &quot;We need to look inward first, strengthen the industry and the production chain. We have thousands of entrepreneurs and SMEs that need to integrate into this industry for us to be truly strong and thriving.&quot;
Mancuso added, &quot;We are convinced that we can become a powerhouse in international markets, but for that to happen, we must first open the domestic market.&quot;
From Argentina To Europe: A New Frontier
Botanicanns is set to export high-CBD and THC cannabis inflorescences, as well as cuttings and seedlings, all intended for medicinal use. The company boasts state-of-the-art greenhouses with environmental control systems, blackout systems and anti-snake nets. Its processing plant is divided into two main areas: one for cultivating and caring for live plants, and another for post-harvest processing, including drying and packaging rooms.
The company works with local and international suppliers, utilizing traceability systems and genetic banks registered with the National Seed Institute (INASE).
The certification process, conducted by LSQA, a company specializing in medicinal cannabis certifications with a presence in over 13 countries, took more than two years and required collaboration with professionals from various fields.
Regulatory Challenges And Future Prospects
This milestone comes amid regulatory reforms in Argentina&#39;s cannabis industry. The reorganization of the Regulatory Agency for the Hemp and Medicinal Cannabis Industry (<a href="https://elplanteo.com/argentina-ariccame-sigue/">ARICCAME</a>) and new regulations have caused delays in the sector. Botanicanns remains optimistic: &quot;We trust that this administration will appoint the ARICCAME Board and kickstart the production chain,&quot; the company stated, viewing their certification as the beginning of significant advancements in the industry.
This certification marks the beginning of a new era for Botanicanns and the Argentinian cannabis industry, poised to make significant strides both domestically and internationally.
This article is from an external unpaid contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Cannabis

Can Argentina Dominate Global Cannabis? One Company Thinks So, Following GACP Certification

Source: <a href="https://www.streetwisereports.com/article/2024/06/03/copper-gold-co-involved-in-merger-buys-camp-assets.html?utm_medium=feed">Streetwise Reports 06/03/2024</a>
Blackwolf Copper &amp; Gold Ltd. (OTC:BWCGF) announced it has closed on the purchase of camp assets at the company&#39;s Niblack project in southeastern Alaska from Matrix Camps and Logistics Inc.
Under the agreement, dated April 30, the parties released each from prior claims under a camp support and rental agreement between them in 2021. Blackwolf&#39;s wholly owned subsidiary, Niblack Project LLC, will pay Matrix a US$100,000 deposit made prior to the agreement and 9.3 million common shares in the capital of the company to Matrix affiliate Matrix Aviation Solutions Inc., Blackwolf said in a release.
The shares are subject to a statutory holding period until September 23. Also, 50% of the shares are subject to a contractual resale restriction, which means they can&#39;t be sold for a period of one year.
Blackwolf and Treasury Metals Inc. (OTC:TSRMF) announced earlier this month that they were merging, forming a strategic partnership poised to enhance their production and financial standing in the gold market.
The newly merged entity will focus on the Goliath Gold Complex (GGC) in Ontario, which is nearing production readiness.
It is expected to produce approximately 109,000 ounces of gold annually at competitive costs. This move is strategically timed to capitalize on the potential rise in gold prices, with some market analysts predicting prices could reach as high as US$3,000 per ounce in the medium term.
&quot;Blackwolf Copper &amp; Gold Ltd. and Treasury Metals have announced they are upsizing their combined merger-related financing from (CA)$4M to (CA)$6.4M&quot; wrote Jay Taylor of Hotline on May 10. &quot;This combination renders Blackwolf a near-term producer while providing the combined entity some exceptional exploration projects in British Columbia and Alaska.&quot;
<h2>The Catalyst: Pursuing Growth in a Strong Gold Market</h2>
Some analysts viewed the merger between the companies favorably.
&quot;With a pro-forma cash balance of ~(CA)$10 million, strengthened with (the financing), the combined company would be well capitalized to execute on its strategy and pursue further growth in a strong gold price environment&quot; wrote Red Cloud analyst Taylor Combaluzier, who rated the stock Tender, advising clients to tender their shares, with a target price of CA$0.35 per share.
<blockquote class="callOut left">Technical Analyst Clive Maund highlighted the positive aspects of the merger between Treasury Metals and Blackwolf on May 2. He said the move is poised to advance the GGC significantly.</blockquote>
&quot;Progress on ongoing feasibility and permitting work for the GGC project by Treasury could potentially help drive the price of the BWCG shares towards our target until the transaction closes&quot; Combaluzier wrote on May 3.
Technical Analyst Clive Maund highlighted the positive aspects of the merger between Treasury Metals and Blackwolf on May 2. He said the move is poised to advance the GGC significantly.
&quot;This is a strong transaction for Blackwolf and Treasury shareholders that puts the company on the path of a buy and build strategy that I have implemented many times&quot; Maund wrote. &quot;We see the GGC Project as buildable and expandable on a district scale.&quot;
According to a May 2 Investingwhisperer.com commentary, &quot;There is a very limited time for investors and gold majors to snap up big assets &mdash; on the cheap. As the Western world gets used to a MUCH higher gold price now &mdash; asset SELLERS will want a much higher price for their ounces in the ground.&quot;
<h2>Six Known VMS Mineralization Zones Found</h2>
The Niblack copper-gold-zinc-silver project is located on Prince of Wales Island in southeast Alaska, Blackwolf said on its website. It covers about 6,200 acres, including 250 acres of patented lands, and is located on tidewater, with year-round marine and floatplane access and significant existing site infrastructure, including an 850-meter production-sized underground portal.
&quot;The project hosts a series of polymetallic copper-gold-zinc-silver VMS deposits and has a 120+ year history, including exploration and production&quot; the company said. &quot;Property scale exploration programs, which include mapping, sampling, and geophysical surveys, have been conducted along with over 120,000 meters of drilling in 424 holes from both surface and via an underground exploration tunnel. These programs have discovered and delineated six known zones of volcanogenic massive sulfide (VMS) mineralization (Lookout, Trio, Dama, Lindsy, Mammoth, and the historic Niblack mine site).&quot; [OWNERSHIP_CHART-1961]
In February 2023, a National Instrument 43-101-compliant resource estimate was finished on Niblack. At a US$100 cutoff, the resource at the Lookout Deposit contained 5.39 million tonnes in the Indicated category grading 0.92% copper (Cu), 1.88 grams per tonne gold (g/t Au), 1.72% zinc (Zn), 30 g/t silver (Ag) and 159 thousand tonnes in the Inferred category grading 0.93% Cu, 1.63 g/t Au, 1.31% Zn, and 18 g/t Ag.
The Trio Deposit contained 460,000 tonnes in the Indicated category, grading 1.16% Cu, 1.3 g/t Au, 1.75% Zn, and 20 g/t Ag, and 55,000 tonnes in the Inferred category, grading 0.91% Cu, 1.2 g/t Au, and 1.9% Zn.
<h2>Ownership and Share Structure</h2>
According to the company, management and insiders hold 9.2% of the Blackwolf Copper &amp; Gold.
With this transaction, Treasury Metals, along with other strategic investors, holds 37.03% of the company. The rest is with retail.
Blackwolf currently has a market cap of approximately CA$17.16 million, trading within a 52-week price range of CA$0.09 to CA$0.37.
Important Disclosures:
<ol>
<li>Blackwolf Copper &amp; Gold Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.</li>
<li>As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Blackwolf Copper &amp; Gold Ltd.</li>
<li>Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li>
<li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports&#39; terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.</li>
</ol>
Contributing Author Disclosures
<ol>
<li>Author Certification and Compensation: Clive Maund of clivemaund.com is being compensated as an independent contractor by Street Smart, an affiliate of Streetwise Reports, for writing this article. Maund received his UK Technical Analysts&#39; Diploma in 1989. The recommendations and opinions expressed in this content accurately reflect the personal, independent, and objective views of the author regarding any and all of the designated securities discussed. No part of the compensation received by the author was, is, or will be directly or indirectly related to the specific recommendations or views expressed.</li>
</ol>
Clivemaund.com Disclosures
The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund&#39;s opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund&#39;s opinions on the market and stocks cannot be only be construed as a recommendation or solicitation to buy and sell securities.

Penny Stocks

Commodities

BWCGF

TSRMF

Copper & Gold Co. Involved in Merger Buys Camp Assets

TD Cowen analyst Sam Margolin maintains NextDecade (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEXT#NASDAQ">NEXT</a>) with a Hold and raises the price target from $7 to $9.

TD Cowen Maintains Hold on NextDecade, Raises Price Target to $9

Lithia Motors's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) short percent of float has risen 3.51% since its last report. The company recently reported that it has 2.77 million shares sold short, which is 11.49% of all regular shares that are available for trading. Based on its trading volume, it would take traders 11.39 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Lithia Motors Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1717692320_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Lithia Motors has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Lithia Motors's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Lithia Motors's peer group average for short interest as a percentage of float is 13.07%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About Lithia Motors?

Lattice Semiconductor's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NYSE">LSCC</a>) short percent of float has fallen 7.88% since its last report. The company recently reported that it has 11.90 million shares sold short, which is 11.45% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.7 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Lattice Semiconductor Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1717692315_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Lattice Semiconductor has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Lattice Semiconductor's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Lattice Semiconductor's peer group average for short interest as a percentage of float is 4.14%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

LSCC

(LSCC) - Analyzing Lattice Semiconductor's Short Interest

Ciena (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cien#NYSE">CIEN</a>) came out with quarterly earnings of $0.27 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.74 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 80%. A quarter ago, it was expected that this developer of high-speed networking technology would post earnings of $0.47 per share when it actually produced earnings of $0.66, delivering a surprise of 40.43%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Ciena, which belongs to the Zacks Fiber Optics industry, posted revenues of $910.83 million for the quarter ended April 2024, surpassing the Zacks Consensus Estimate by 1.59%. This compares to year-ago revenues of $1.13 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Ciena shares have added about 7.2% since the beginning of the year versus the S&amp;P 500&#39;s gain of 12.3%.
What&#39;s Next for Ciena?
While Ciena has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Ciena: unfavorable. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.52 on $1.02 billion in revenues for the coming quarter and $2.22 on $4.11 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Fiber Optics is currently in the bottom 8% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Computer and Technology sector, TD SYNNEX (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snx#NYSE">SNX</a>), has yet to report results for the quarter ended May 2024. The results are expected to be released on June 25.
This high-tech contractor is expected to post quarterly earnings of $2.76 per share in its upcoming report, which represents a year-over-year change of +13.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
TD SYNNEX&#39;s revenues are expected to be $14.12 billion, up 0.4% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2284448/ciena-cien-q2-earnings-and-revenues-beat-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2284448">To read this article on Zacks.com click here.</a>

Earnings Beats

CIEN

Ciena Q2 Earnings and Revenues Beat Estimates

Antero Resources's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AR#NYSE">AR</a>) short percent of float has fallen 7.14% since its last report. The company recently reported that it has 11.10 million shares sold short, which is 4.55% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.8 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Antero Resources Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1717692310_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Antero Resources has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Antero Resources's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Antero Resources's peer group average for short interest as a percentage of float is 7.56%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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