Short interest for Weatherford International gives investors a sense of the degree to which investors are betting on the decline of Weatherford International's stock. Short interest data is updated every two weeks.

Weatherford International Stock (NASDAQ:WFRD), Short Interest Report

Weatherford International

Weatherford International provides diversified oilfield services across international markets for an array of oilfield types. The firm is a global market leader in artificial lift and tubular running services. Other key product lines include cementing products, directional drilling, and wireline evaluation.

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Shares of United Parcel Service, Inc. (NYSE: UPS) fell sharply during Tuesday’s session after the company reported worse-than-expected fourth-quarter sales results and issued FY24 sales 

Why UPS Shares Are Trading Lower By 8%? Here Are Other Stocks Moving In Tuesday&#39;s Mid-Day Session

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Billionaire David Einhorn has his portfolio heavy on the material and energy sector, with 39.31% and 23.84% allocation, respectively.

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Weatherford International plc (NASDAQ: WFRD) shares were climbing in trading on Friday.

Why This Weatherford Analyst Is Bullish On Oil Play

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Weatherford International PLC

Oppenheimer analyst Michael Wiederhorn maintains PACS Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PACS#NYSE">PACS</a>) with a Outperform and raises the price target from $31 to $32.

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Oppenheimer Maintains Outperform on PACS Group, Raises Price Target to $32

Oppenheimer analyst Suraj Kalia maintains Nyxoah (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYXH#NASDAQ">NYXH</a>) with a Outperform and lowers the price target from $20 to $15.

Oppenheimer Maintains Outperform on Nyxoah, Lowers Price Target to $15

HC Wainwright &amp; Co. analyst Yi Chen reiterates CareDx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNA#NASDAQ">CDNA</a>) with a Neutral.

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Deep-pocketed investors have adopted a bullish approach towards Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in MS usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for Morgan Stanley. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 42% bearish. Among these notable options, 6 are puts, totaling $300,163, and 8 are calls, amounting to $594,911.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $110.0 for Morgan Stanley over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of Morgan Stanley stands at 3260.38, with a total volume reaching 3,118.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Morgan Stanley, situated within the strike price corridor from $70.0 to $110.0, throughout the last 30 days.
<h3>Morgan Stanley Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715787169_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>MS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$15.9</td>
<td>$15.8</td>
<td>$15.9</td>
<td>$90.00</td>
<td>$127.2K</td>
<td>7.9K</td>
<td>80</td>
</tr>
<tr>
<td>MS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$9.7</td>
<td>$9.5</td>
<td>$9.5</td>
<td>$105.00</td>
<td>$95.0K</td>
<td>2.2K</td>
<td>100</td>
</tr>
<tr>
<td>MS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$1.08</td>
<td>$1.06</td>
<td>$1.06</td>
<td>$110.00</td>
<td>$94.0K</td>
<td>1.5K</td>
<td>1.2K</td>
</tr>
<tr>
<td>MS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$11.1</td>
<td>$10.85</td>
<td>$11.1</td>
<td>$90.00</td>
<td>$88.8K</td>
<td>5.3K</td>
<td>94</td>
</tr>
<tr>
<td>MS</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$2.95</td>
<td>$2.92</td>
<td>$2.94</td>
<td>$100.00</td>
<td>$88.2K</td>
<td>1.0K</td>
<td>397</td>
</tr>
</tbody>
</table>

<h3>About Morgan Stanley</h3>
Morgan Stanley is a global investment bank whose history, through its legacy firms, can be traced back to 1924. The company has institutional securities, wealth management, and investment management segments. The company had over $4 trillion of client assets as well as over 80,000 employees at the end of 2022. Approximately 50% of the company's net revenue is from its institutional securities business, with the remainder coming from wealth and investment management. The company derives about 30% of its total revenue outside the Americas.
Having examined the options trading patterns of Morgan Stanley, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Morgan Stanley's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 1,758,209, the MS's price is up by 1.27%, now at $100.64. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 62 days.</li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Morgan Stanley with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

This Is What Whales Are Betting On Morgan Stanley

Whales with a lot of money to spend have taken a noticeably bullish stance on Wells Fargo.
Looking at options history for Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 53% of the investors opened trades with bullish expectations and 46% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $569,951 and 8, calls, for a total amount of $307,006.
<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 $30.0 to $67.5 for Wells Fargo during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Wells Fargo's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Wells Fargo's significant trades, within a strike price range of $30.0 to $67.5, over the past month.
<h3>Wells Fargo 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715787164_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>WFC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$1.78</td>
<td>$1.72</td>
<td>$1.82</td>
<td>$45.00</td>
<td>$273.0K</td>
<td>7.5K</td>
<td>1.5K</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$1.71</td>
<td>$1.69</td>
<td>$1.7</td>
<td>$60.00</td>
<td>$113.6K</td>
<td>2.5K</td>
<td>674</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$3.2</td>
<td>$3.1</td>
<td>$3.1</td>
<td>$62.50</td>
<td>$107.2K</td>
<td>930</td>
<td>408</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$1.05</td>
<td>$1.03</td>
<td>$1.05</td>
<td>$67.50</td>
<td>$98.7K</td>
<td>996</td>
<td>1.0K</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$0.35</td>
<td>$0.34</td>
<td>$0.34</td>
<td>$62.00</td>
<td>$44.6K</td>
<td>2.3K</td>
<td>2.1K</td>
</tr>
</tbody>
</table>

<h3>About Wells Fargo</h3>
Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.
Following our analysis of the options activities associated with Wells Fargo, we pivot to a closer look at the company's own performance.
<h3>Current Position of Wells Fargo</h3>
<ul>
<li>With a volume of 4,046,376, the price of WFC is up 0.36% at $62.12. </li>
<li>RSI indicators hint that the underlying stock may be overbought.</li>
<li>Next earnings are expected to be released in 58 days.</li>
</ul>
<h3>Professional Analyst Ratings for Wells Fargo</h3>
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $61.5.
<ul>
<li>Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Wells Fargo, targeting a price of $61. </li>
</ul>
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 Wells Fargo options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Looking At Wells Fargo's Recent Unusual Options Activity

Financial giants have made a conspicuous bearish move on Riot Platforms. Our analysis of options history for Riot Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) revealed 10 unusual trades.
Delving into the details, we found 30% of traders were bullish, while 60% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $133,566, and 7 were calls, valued at $347,224.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $8.0 and $20.0 for Riot Platforms, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Riot Platforms's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Riot Platforms's whale activity within a strike price range from $8.0 to $20.0 in the last 30 days. 
<h3>Riot Platforms Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715787159_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</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>RIOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$3.2</td>
<td>$3.15</td>
<td>$3.15</td>
<td>$9.00</td>
<td>$89.1K</td>
<td>386</td>
<td>364</td>
</tr>
<tr>
<td>RIOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$4.15</td>
<td>$4.05</td>
<td>$4.05</td>
<td>$8.00</td>
<td>$88.6K</td>
<td>399</td>
<td>220</td>
</tr>
<tr>
<td>RIOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/24/24</td>
<td>$1.28</td>
<td>$1.15</td>
<td>$1.26</td>
<td>$11.00</td>
<td>$58.7K</td>
<td>559</td>
<td>487</td>
</tr>
<tr>
<td>RIOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/14/24</td>
<td>$0.7</td>
<td>$0.68</td>
<td>$0.68</td>
<td>$9.50</td>
<td>$47.7K</td>
<td>347</td>
<td>1.1K</td>
</tr>
<tr>
<td>RIOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$1.34</td>
<td>$1.3</td>
<td>$1.34</td>
<td>$20.00</td>
<td>$44.4K</td>
<td>20.6K</td>
<td>1.1K</td>
</tr>
</tbody>
</table>

<h3>About Riot Platforms</h3>
Riot Platforms Inc is a vertically integrated Bitcoin mining company focused on building, supporting, and operating blockchain technologies. The company's segments include Bitcoin Mining; Data Center Hosting and Engineering. It generates maximum revenue from the Bitcoin Mining segment which generates revenue from the Bitcoin the company earns through its mining activities.
Following our analysis of the options activities associated with Riot Platforms, we pivot to a closer look at the company's own performance.
<h3>Where Is Riot Platforms Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 6,846,577, the RIOT's price is up by 2.4%, now at $10.02. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 84 days.</li>
</ul>
<h3>What Analysts Are Saying About Riot Platforms</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $16.8.
<ul>
<li>Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Riot Platforms with a target price of $15. </li>
<li>An analyst from Needham downgraded its action to Buy with a price target of $17. </li>
<li>An analyst from HC Wainwright &amp; Co. downgraded its action to Buy with a price target of $20. </li>
<li>An analyst from HC Wainwright &amp; Co. has decided to maintain their Buy rating on Riot Platforms, which currently sits at a price target of $17. </li>
<li>Maintaining their stance, an analyst from B. Riley Securities continues to hold a Buy rating for Riot Platforms, targeting a price of $15. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Riot Platforms with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

RIOT

Spotlight on Riot Platforms: Analyzing the Surge in Options Activity

<a href="https://twitter.com/TaylorPopielarz/status/1790765878981668873">https://twitter.com/TaylorPopielarz/status/1790765878981668873</a>
&nbsp;
<figure class="image"><img src="https://pbs.twimg.com/media/GNoUDZBWkAEVPxY?format=png&amp;name=small" alt="Image" /></figure>

Macro Economic Events

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General

SpectrumNews Reporter Taylor Popielarz Posts On X "New Memo From The Trump Campaign: "...We Believe There Should Be More Than Just Two Opportunities For The American People To Hear More From The Candidates Themselves." "Therefore, We Propose A Debate In June, A Debate In July, A Debate In August, And A Debate In September, In Addition To The Vice Presidential Debate.""

Cannabis multi-state operator (MSO) AYR Wellness Inc. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/AYR#CSE">AYR</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/AYRWF#OTCQX">AYRWF</a>) reported on Wednesday the first quarter financial results for the three months ended March 31, 2024.
"2024 continues to be about execution for AYR, furthering the progress we made in 2023 by focusing on improving product quality and consistency, building a loyal retail customer base, rebuilding our CPG brand platform, and continuing to prioritize cost controls," David Goubert, president &amp; CEO of AYR said.
<h3 class="wp-block-heading">Q1 2024 Financial Highlights</h3>
<ul>
<li>Revenue totaled $118 million, up 0.3% year-over-year and 2.8% sequentially.</li>
<li>Gross profit was $50.7 million, up 5% compared to the same quarter of fiscal 2023, and 2.6% compared to the prior period.</li>
<li>Adjusted gross profit, a non-GAAP measure, was $62.6 million, up from $62 million and down from $65.3 million in the prior quarter and the first quarter of fiscal 2023, respectively.</li>
<li>Operating loss was $2 million, down from $21.7 million operating loss in the first quarter of last year and $9.5 million in the prior period.</li>
<li>Total operating expenses amounted to $52.6 million, down from roughly $70 million in the prior year's period.</li>
<li>Adjusted EBITDA, a non-GAAP measure, came in positive at $29.1 million, representing a year-over-year increase of 10.6% and a 2.3% quarter-over-quarter decrease.</li>
<li>Adjusted EBITDA margin, a non-GAAP measure, was 24.7%, compared to 22.4% in the prior year's quarter and 25.9% in the prior period.</li>
</ul>
<h3 class="wp-block-heading">Outlook</h3>
AYR Wellness anticipates revenue in the second quarter to be flat to modestly up compared to the first quarter of 2024, before generating stronger growth in the second half of 2024, replacing our previous guidance on the full-year 2024 outlook.
The company also continues to expect adjusted EBITDA margin to remain at roughly 25% for the year with normal quarterly fluctuations, and to generate positive cash flow from operations and free cash flow for the calendar year 2024.
Goubert said the company's team is focused on positioning AYR for success ahead of the key state-level catalysts on the horizon in Ohio, now that a panel the state lawmakers cleared 11 administrative rules this <a href="https://www.benzinga.com/markets/cannabis/24/05/38804148/gop-lawmakers-in-ohio-finally-approve-rules-allowing-cannabis-sales-to-begin-in-june-existing-me">week for the state&#8217;s medical and recreational marijuana programs.</a>
He expects converting to adult use over the summer in Ohio, as well as in Florida and Pennsylvania, "where we hope to see adult use pass later this year." Ayr was one of the cannabis operators that opted to fund the proposal, known as Amendment 3, that would legalize <a href="https://www.benzinga.com/markets/cannabis/24/04/38077599/cannabis-companies-pony-up-15m-to-support-florida-legalization-amendment-adding-to-trulieves-40m">recreational marijuana in Florida</a> on the <a href="https://www.benzinga.com/markets/cannabis/24/03/37992749/florida-supreme-court-shelves-cannabis-ballot-proposal-with-no-explanation-or-provisions-as-apri" target="_blank" rel="noreferrer noopener">November 2024 ballot</a>.
As cannabis rescheduling seems to be right around the corner and this important issue in Florida is coming up for a vote in November, why not join us to talk more about how all of this will affect the future of the industry? Hear directly for top executives, investors, policymakers and advocates at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices surge by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.
<h3 class="wp-block-heading">AYRWF Price Action</h3>
AYR Wellness&#8216; shares traded 1.96% lower at $2.5 per share at the time of writing on Wednesday,

Cannabis

Earnings

AYRWF

CSE:AYR

AYR Wellness Improves Financial Position YoY, Q1 Revenue And Gross Profit In Anticipation Of OH, FL And PA Cannabis Market Launches

Meme stocks including GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) and AMC Entertainment Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) soared earlier this week on increased optimism led by the social media return of <a href="https://www.benzinga.com/general/education/24/05/38793704/who-is-roaring-kitty-why-does-his-return-to-social-media-matter-for-gamestop-stock">Keith Gill, aka Roaring Kitty.</a>
But shares are under pressure on Wednesday and the rally could prove to be short lived.
GameStop, AMC Fall: After <a href="https://www.benzinga.com/markets/equities/24/05/38831590/5-ways-the-gamestop-meme-stocks-rally-could-fizzle-stock-offerings-boredom-and-more">seeing strong gains </a>on Monday and Tuesday, GameStop and AMC are each down over 20% on Wednesday.
AMC shares could be reacting to news that the company issued stock in exchange for notes and completed an at-the-market equity offering earlier in the week.
For GameStop, the fall could be due to investors taking profits after the stock soared, or it could mark the end of a rally that began when Roaring Kitty shared a meme on X, formerly known as Twitter, on Sunday and followed up with a series of videos throughout the week.
On Monday, GameStop shares opened for trading at $26.34 and closed at $30.45. The shares traded between $24.77 and $38.20 during the day, hitting new 52-week highs.
On Tuesday, GameStop shares opened for trading at $64.83 and closed at $48.75. The shares traded between $36.00 and $64.83 during the day, hitting new 52-week highs.
On Wednesday, the stock told a different story. GameStop opened for trading at $40.31 and has been falling ever since, experiencing several volatility halts to the downside during the trading session.
AMC had a similar path with its share price. AMC stock opened for trading at $3.52 on Monday and closed at $5.19. The stock went on to trade as high as $11.88 on Tuesday. AMC stock opened for trading at $6.10 on Wednesday and is currently down over 20% at the time of writing.
While both GameStop and AMC stock trade higher than they did to start the week, the downward move could signal the rally losing steam.
In January 2021, the rally of meme stocks lasted several weeks. The rally likely ended more from the intervention of brokerages and actions taken by Congress rather than investors losing interest.
Related Link: <a href="https://www.benzinga.com/markets/options/24/05/38825760/gamestop-option-traders-active-before-roaring-kittys-tweets-might-have-made-millions">GameStop Option Traders Active Before Roaring Kitty&#8217;s Tweets, Might Have Made Millions</a>
Roaring Kitty Mystery: The return of Roaring Kitty on social media sparked the current rally and could be a determining factor in how long the current rally lasts.
After sharing a meme on Sunday, the social media account <a href="https://www.benzinga.com/general/gaming/24/05/38798005/roaring-kitty-doubles-down-posts-new-videos-on-x-sending-gamestops-stock-higher">posted videos featuring clips from movies</a> on X on Monday and Tuesday. The <a href="https://twitter.com/TheRoaringKitty">videos </a>were spaced out in 30 minute intervals for hours during the trading session.
On Tuesday, a video was shared at night with a movie clip from "Braveheart," featuring Mel Gibson's character. In the video another character says "The prisoner wishes to say a word," before Gibson's character yells out an elongated "Freedom." On the screen reads and elongated "Gamestop" during the clip.
Wednesday's movie clips from the Roaring Kitty account have been spaced out every 15 minutes.
No one knows exactly what this means or if the videos could be a countdown to something, as the intervals between releases shorten..
While the videos are likely coming from Gill, there also has been no proof that it is still the original Roaring Kitty behind the account with no words shared, no videos of himself and no videos on YouTube, like he previously did in 2021.
GME, AMC Price Action: GameStop shares are down 32% to $33.33 at the time of writing Wednesday.
AMC shares are down 25% to $5.13 at the time of writing Wednesday.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38835005/amid-gamestop-amc-meme-mania-robinhood-scores-record-5b-equities-trading-volume-ceo-vlad-tenev-s">Amid GameStop, AMC Meme Mania, Robinhood Scores Record $5B Equities Trading Volume — CEO Vlad Tenev Says, &#8216;One Of Our Biggest Days&#8217;</a>
Photo: Shutterstock

Social Media

GameStop, AMC Stock In Freefall Wednesday: Is 2024 Meme Stock Rally Over?

HC Wainwright &amp; Co. analyst Yi Chen maintains Regenxbio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGNX#NASDAQ">RGNX</a>) with a Buy and raises the price target from $36 to $38.

RGNX

HC Wainwright & Co. Maintains Buy on Regenxbio, Raises Price Target to $38

The SPDR S&amp;P 500 (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>) reached a new all-time high of $526.80 on Wednesday after the Consumer Price Index (CPI) showed inflation <a href="https://www.benzinga.com/markets/equities/24/05/38842603/us-inflation-falls-as-expected-in-april-bolsters-fed-rate-cut-bets">pressures eased in April</a>.
The central bank is widely anticipated to hold rates steady until September when a 25-basis point cut is expected. The April reading, which came in broadly in line with estimates has further reinforced that expectation.
Whether or not the SPY will continue its blue-sky run remains to be seen but the ETF is trading in a strong uptrend, making a series of higher highs and higher lows.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38838614/asia-and-europe-markets-mixed-copper-hits-two-year-high-gold-edges-higher-at-2-375-global-markets-to">Asia And Europe Markets Mixed, Copper Hits Two-Year High, Gold Edges Higher At $2,375 - Global Markets Today While US Slept</a>
Trending:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38843588/millionaire-trader-up-7-figures-in-48-hours-on-gamestop-and-amc-meme-coins-on-solana">Millionaire Trader &#39;Up 7 Figures In 48 Hours&#39; On GameStop And AMC Meme Coins On Solana</a>
More experienced traders who wish to play the SPY either bullishly or bearishly may choose to do so through one of two Direxion ETFs. Bullish traders can enter a short-term position in Direxion Daily S&amp;P 500 Bull 3X Shares (ARCA: SPXL) and bearish traders can trade the inverse ETF, Direxion Daily S&amp;P 500 Bear 3X Shares (ARCA: SPXS).
The ETFs: SPXL and SPXS<a href="https://www.direxion.com/product/daily-sp-500-bull-bear-3x-etfs"> are triple leveraged funds</a> that track the movement of the SPY, seeking a return of 300% or &ndash;300% on the return of the benchmark index over a single day.
It should be noted that leveraged ETFs are meant to be used as a trading vehicle as opposed to long-term investments
Want direct analysis? Find me in the BZ Pro lounge! <a href="http://www.benzinga.com/pro">Click here for a free trial</a>.
The SPXL Chart: SPXL was rising about 2.23% higher Wednesday after gapping up to start the trading session. The ETF has been trading in an uptrend since April 19, when SPXL found a local bottom at the $111.54 mark.
<ul>
<li>The most recent confirmed higher high within the pattern was formed on May 7 at $128.05 and the most recent higher low was printed at the $125.47 mark the following day. On Wednesday, SPXL was working to print a bullish kicker candlestick, which could indicate the ETF will trade higher before finding a local top within the uptrend.</li>
<li>Bears may choose to wait until the ETF shows signs that a local top has occurred before entering a trade. Bearish traders can watch for SPXL to eventually form a bearish reversal candlestick, such as a doji or shooting star candlestick, which may take place once the ETF has reached overbought territory.</li>
<li>SPXL has resistance above at $135.16 and at $140.27 and support below at $129.07 and at $122.89.<img alt="screenshot_641.png" src="https://www.benzinga.com/files/u278075/screenshot_641.png" style="height:353px; width:760px" /></li>
</ul>
Featured image sourced from Shuttertock

Long Ideas

Sector ETFs

Short Ideas

Specialty ETFs

Technicals

ETFs

SPXL

SPXS

The SPY Flies Higher After U.S. Inflation Report Renews Hopes Of Rate Cuts

Starbucks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) has outperformed the market over the past 15 years by 4.92% on an annualized basis producing an average annual return of 17.51%. Currently, Starbucks has a market capitalization of $85.98 billion. 
Buying $1000 In SBUX: If an investor had bought $1000 of SBUX stock 15 years ago, it would be worth $11,146.86 today based on a price of $75.91 for SBUX at the time of writing.
<h3>Starbucks's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715787024_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

SBUX

Here's How Much $1000 Invested In Starbucks 15 Years Ago Would Be Worth Today

Adobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) has outperformed the market over the past 15 years by 8.92% on an annualized basis producing an average annual return of 21.5%. Currently, Adobe has a market capitalization of $216.85 billion. 
Buying $1000 In ADBE: If an investor had bought $1000 of ADBE stock 15 years ago, it would be worth $18,341.80 today based on a price of $484.04 for ADBE at the time of writing.
<h3>Adobe's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715787019_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ADBE

$1000 Invested In This Stock 15 Years Ago Would Be Worth $18,000 Today

In a candid 2019 interview on the "Afford Anything" podcast, Suze Orman, a financial expert known for her straightforward advice, vehemently criticized the <a href="https://www.benzinga.com/personal-finance/24/02/37318402/you-are-going-to-burn-up-alive-suze-orman-hates-the-fire-movement-and-says-you-need-at-least-20-">Financial Independence, Retire Early (FIRE) movement</a>. She emphasized the crucial role of compound interest in building wealth and warned against the potential pitfalls of retiring too soon.
Don't Miss:
<ul>
<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 Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/red-ventures"> The percentage may shock you</a>.</li>
</ul>
Orman cautioned, "You want to be a multimillionaire? Do not insult the beauty of compound interest." She explained that retiring early and forgoing additional compounding years can significantly reduce one's financial stability in the later years. Orman underscored the necessity of allowing investments to grow through compound interest. She illustrated the power of this financial tool with a straightforward comparison: "Just a hundred dollars a month will cost you seven hundred thousand dollars if you waited 10 years."
During the podcast, Orman highlighted the dangers associated with withdrawing principal too early, emphasizing that while investments can guarantee income, once the principal is depleted, <a href="https://www.benzinga.com/personal-finance/24/05/38734261/suze-orman-shares-why-people-making-100k-end-up-with-less-money-the-more-money-you-make-the-more">financial security becomes precarious</a>. She shared grim real-life consequences of financial strain she witnessed among acquaintances, "I&#8217;ve seen what happens when they don&#8217;t have the money to pay their bills. I&#8217;ve seen them take guns and put it to their head."
In addition to discussing financial aspects, Orman emphasized the need for adequate insurance and the importance of preparedness for unexpected life events, which can be financially devastating without the proper safety net. She pointed out that "besides your investment portfolios you better have disability insurance but you&#8217;re not gonna be able to get disability insurance because you&#8217;re not even working."
<hr class="wp-block-separator has-alpha-channel-opacity" />
Trending: 82% of Americans aren&#8217;t using<a href="https://www.benzinga.com/money/public-hys"> this government secured 5% passive income stream</a>, are you one of them?
<hr class="wp-block-separator has-alpha-channel-opacity" />
Her advice to those considering the FIRE movement is to critically assess not only their current financial situation but also their long-term needs and potential risks. Investing consistently and wisely, while utilizing the power of compound interest and <a href="https://www.benzinga.com/real-estate/24/05/38764935/suze-orman-says-todays-high-mortgage-rates-are-an-important-lesson">preparing for unexpected changes</a>, is essential for maintaining financial health through retirement.
Orman&#8217;s perspective offers a valuable counterpoint to the all-or-nothing approach of the FIRE movement, drawing on her observations and deep understanding of finance.&nbsp;
Whether you&#8217;re captivated by the idea of early retirement with a backpack and a plane ticket, or you crave the stability of a traditional savings plan, there&#8217;s a path for you. But navigating that path requires a map, and a <a href="https://www.benzinga.com/money/fam">financial advisor</a> can be your cartographer. They can help you chart a course that considers your risk tolerance, lifestyle desires, and yes, even your wanderlust.&nbsp;
Read Next:
<ul>
<li>Boomers and Gen Z agree they need a salary of around $125,000 a year to be happy,<a href="https://www.benzinga.com/money/genz-salary-adv"> but millennials say they need how much?</a></li>
<li>Americans got swindled out of $24.6 billion in the last 3 years – <a href="https://www.benzinga.com/money/advisor-adv" target="_blank" rel="noreferrer noopener">Which high profile ponzi scheme was endorsed by millionaires?</a></li>
</ul>

Personal Finance

Suze Orman Warns, 'You Want To Be A Multi-Millionaire? Don't Insult The Beauty Of Compound Interest' — Waiting 10 Years Can Cost You $700K

HC Wainwright &amp; Co. analyst Yi Chen reiterates Genprex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNPX#NASDAQ">GNPX</a>) with a Buy and maintains $10 price target.

GNPX

HC Wainwright & Co. Reiterates Buy on Genprex, Maintains $10 Price Target

HC Wainwright &amp; Co. analyst Yi Chen reiterates Belite Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLTE#NASDAQ">BLTE</a>) with a Buy and maintains $59 price target.

BLTE

HC Wainwright & Co. Reiterates Buy on Belite Bio, Maintains $59 Price Target

Arcos Dorados Holdings Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>) shares are trading lower in the&nbsp;morning session on Wednesday.
The company reported total revenues of $1.081 billion in the first quarter,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b38839705/arcos-dorados-reports-strong-first-quarter-financial-results" rel="noreferrer noopener">up 9.1% versus the prior year</a>. Quarterly sales marginally beat the analyst consensus of $1.020 billion.
Systemwide comparable sales grew 38.6% in the first quarter, supported by the twelfth consecutive quarter of guest volume growth. Digital channels (Mobile App, Delivery, and Self-order Kiosks) generated 55% of systemwide sales in the period, including 22% identified sales.
Consolidated Adjusted EBITDA in the quarter under review was $108.9 million, rising 8.4%&nbsp;year-over-year.&nbsp;Adjusted EBITDA margin expanded 90 basis points in Brazil and 30 basis points in NOLAD.
Arcos Dorados reported first-quarter earnings per share of 14 cents, <a href="https://www.benzinga.com/earnings">missing the street view of 17 cents.</a>
&#8220;By operating responsibly and managing the business with a long-term mindset, we built our strongest ever Brand reputation among Latin America&#8217;s quick service restaurant (QSR) customers,&#8221; said Marcelo Rabach, Chief Executive Officer.
Notably, in the first quarter of&nbsp;2024,&nbsp;the company signed an agreement to become a regional sponsor of Formula One in Latin America.&nbsp;
&#8220;This agreement&nbsp;is expected&nbsp;to provide significant brand presence&nbsp;and&nbsp;the sponsorship will focus on further leveraging the company&#8217;s successful&nbsp;Three-D&#8217;s&nbsp;strategy, especially the Drive-thru segment with its precision, teamwork&nbsp;and&nbsp;speed of service,&#8221; the company said.
Price Action: ARCO shares are trading lower by 2.59% to $10.92 at last check Wednesday. 
Photo Generated Using Dall-E Artificial Intelligence

Equities

ARCO

What's Going On With McDonald's Franchisee Arcos Dorados Stock Today?

HC Wainwright &amp; Co. analyst Emily Bodnar reiterates Jasper Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JSPR#NASDAQ">JSPR</a>) with a Buy and maintains $65 price target.

Jasper Therapeutics, Inc. - Class A Common Stock

JSPR

HC Wainwright & Co. Reiterates Buy on Jasper Therapeutics, Maintains $65 Price Target

Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is launching a separate, third-party fact-checking program for its social media platform Threads. 
What Happened: Head of Instagram Adam Mosseri <a href="https://www.threads.net/@mosseri/post/C6-BJRjPNte/?xmt=AQGzqkh-E8QwN3vrN48XrtWrxbpcd0Va7kWMpgEODny6pw">announced</a> the fact-checking program on a Thread late Tuesday night. &#8220;&#8230;we recently rolled out the ability for our third-party fact-checking partners to review and rate false content on Threads,&#8221; Mosseri said.
The system formerly used by Meta only applied to Threads content that was identical to Facebook and Instagram content. &#8220;Now fact-checkers can rate Threads content on its own,&#8221; Mosseri said.
See Also: <a href="https://www.benzinga.com/government/24/05/38847469/bidens-economic-advisor-says-china-is-not-playing-by-the-rules-so-tariffs-on-goods-needed-to-ensure">Biden&#8217;s Economic Advisor Says &#8216;China Is Not Playing By The Rules&#8217; So Tariffs On Goods Needed To Ensure &#8216;Level Playing Field&#8217;</a>
Why It Matters: The announcement coincides with increased social media scrutiny ahead of <a href="https://www.benzinga.com/news/23/11/35994857/meta-enhances-election-safeguards-for-2024-to-tackle-misinformation">the 2024 presidential election</a>.
Threads is positioned as a competitor to Elon Musk&#8217;s X. The platform <a href="https://www.benzinga.com/news/24/02/36905049/mark-zuckerberg-says-threads-exploded-too-soon-but-now-its-on-track-to-be-a-major-success">saw</a> rapid growth after its introduction in July 2023 but declining growth in user activity in the months afterward. Ahead of the 2024 election, Meta appears to be doubling down on its efforts to combat misinformation on its platforms.
Meta has received criticism for their content moderation policies on multiple angles. Meta reportedly <a href="https://www.benzinga.com/markets/equities/24/04/38489772/meta-faces-eu-probe-for-suspected-failure-to-combat-russian-disinformation-report">faces</a> a probe from the European Union for an alleged lack of content moderation of Russian disinformation campaigns. On the flip side, Independent presidential candidate Robert F. Kennedy Jr. is <a href="https://www.benzinga.com/general/social-media/24/05/38828268/robert-f-kennedy-sues-meta-platforms-ceo-mark-zuckerberg-accuses-social-media-giant-of-suppr">suing</a> the company for &#8220;election interference&#8221; following its content moderation of his campaign videos.
In addition, the company <a href="https://www.benzinga.com/news/24/03/38002104/facebook-news-feature-set-to-be-axed-by-meta-in-us-australia-as-it-scales-back-on-political-content">announced</a> that it would de-emphasize political content in its platform&#8217;s recommendation algorithms, and remove its news tab. Users can access news articles through links. News organizations will retain the ability to post and promote their content on Facebook.
Price Action: Meta traded at $473.48, up 0.34% for the day at the time of publication.
Now Read: <a href="https://www.benzinga.com/news/24/05/38843779/whats-going-on-with-amc-entertainment-stock-wednesday">What&#8217;s Going On With AMC Entertainment Stock Wednesday?</a>
Image by Fernando Astasio Avila on Shutterstock

Meta Introduces Independent Fact-Checking Program For Threads

HC Wainwright &amp; Co. analyst Arthur He reiterates BioAtla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCAB#NASDAQ">BCAB</a>) with a Buy and maintains $7 price target.

BCAB

HC Wainwright & Co. Reiterates Buy on BioAtla, Maintains $7 Price Target

There's a lot to be optimistic about in the Energy sector as 3 analysts just weighed in on Weatherford International (WFRD – Research Report), Bake...

Analysts Offer Insights on Energy Companies: Weatherford International (WFRD), Baker Hughes Company (BKR) and EQT (EQT)

Weatherford International plc (WFRD) Q1 2024 Earnings Call Transcript

Weatherford International plc 2024 Q1 - Results - Earnings Call Presentation

There's a lot to be optimistic about in the Energy sector as 2 analysts just weighed in on Weatherford International (WFRD – Research Report) and V...

Analysts Offer Insights on Energy Companies: Weatherford International (WFRD) and Valero Energy (VLO)

Oil and gas prices have been surging lately due to an improving demand outlook and persistent supply risks amid geopolitical tensions, creating tailwinds for the energy sector. Thus, it could be wise to invest in fundamentally sound energy stocks Cenovus Energy (CVE), Weatherford International (WFRD), and Gulf Island Fabrication (GIFI) for rapid growth in May. Read on… Amid rising economic and geopolitical uncertainties followed by oil production cuts by OPEC+ members and Mexico, oil demand is surging rapidly with limited supply, leading to hiked prices. Brent crude futures <a href="https://tradingeconomics.com/commodity/brent-crude-oil">surged above $89 per barrel</a> lately and are set to gain nearly 2% this week.
Given the industry tailwinds, it could be wise to invest in fundamentally sound energy stocks Cenovus Energy Inc. (<a href="https://stocknews.com/stock/CVE/">CVE</a>), Weatherford International plc (<a href="https://stocknews.com/stock/WFRD/">WFRD</a>), and Gulf Island Fabrication, Inc. (<a href="https://stocknews.com/stock/GIFI/">GIFI</a>) for significant growth in May.
According to the World Bank, the outbreak of a major conflict in the Middle East could trigger an energy shock, pushing <a href="https://www.cnbc.com/2024/04/25/middle-east-escalation-could-trigger-energy-shock-that-fuels-inflation-world-bank-warns.html">oil prices over $100 a barrel</a>. Earlier this month, tensions in the Middle East escalated as Israel and OPEC member Iran appeared on the brink of war, increasing fears of crude oil supply disruptions.
In an attempt to supply more to its domestic refineries for energy self-sufficiency, <a href="https://www.reuters.com/business/energy/mexico-cut-least-330000-bpd-crude-exports-may-sources-say-2024-04-08/">Mexico's state energy company</a>, Pemex, plans to cut at least 330,000 barrels per day (bpd) of crude exports in the next month. This will leave customers in economies like the U.S., Europe, and Asia, further constraining supply.
Tighter oil supplies due to OPEC+ cuts, <a href="https://www.mckinsey.com/industries/oil-and-gas/our-insights/oil-and-gas-blog/snapshot-of-global-oil-supply-and-demand">resilient economic growth</a>, and continued geopolitical uncertainty propel steady oil price hikes. Moreover, EIA forecasted that Brent crude oil spot price will average $90 per barrel in the second quarter of 2024, which is $2/b more than its March STEO, and it expects the <a href="https://www.eia.gov/outlooks/steo/">prices to average $89/b in 2024</a>.
The global oil and gas market is expected to reach $65.80 billion by 2032, exhibiting a <a href="https://www.imarcgroup.com/oil-gas-market">CAGR of 15.8%</a> during the forecast period (2024-2032). Meanwhile, the global <a href="https://www.skyquestt.com/report/offshore-drilling-market">offshore drilling market</a> is projected to grow at a CAGR of 8.2% to total $197.93 billion by 2031.
Moreover, investors' interest in energy stocks is evident from the Vanguard Energy ETF's (<a href="https://stocknews.com/stock/VDE/">VDE</a>) 20.7% returns over the past year.
Given the industry's robust outlook, investing in quality energy stocks such as CVE, WFRD, and GIFI could be wise for future gains.
Cenovus Energy Inc. (<a href="https://stocknews.com/stock/CVE/">CVE</a>)
Headquartered in Calgary, Canada, CVE develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. It operates through segments like Oil Sands; Conventional; Offshore, Canadian Refining; and U.S. Refining.
CVE's revenue and <a href="https://www.investopedia.com/terms/e/ebitda.asp">EBITDA</a> have grown at respective CAGRs of 56.8% and 172.8% over the past three years. The company's tangible book value has increased at a CAGR of 20.7% over the same timeframe, while its total assets have improved at a CAGR of 18.1%.
On February 15, 2024, CVE's Board of Directors declared a quarterly base dividend of $0.14 per common share, paid on March 28, 2024, to shareholders of record as of March 15, 2024.
Also, the Board declared a quarterly dividend on each of the cumulative redeemable first preferred shares – Series 1 ($0.16), Series 2 ($0.42), Series 3 ($0.29), Series 5 ($0.29) and Series 7 ($0.24) – paid on April 1, 2024, to shareholders of record as of March 15, 2024.
CVE pays an annual dividend of $0.42 per share, which translates to a yield of 1.96% on the current share price. Its four-year average dividend yield is 1.50%. The company's dividend payouts have grown at a CAGR of 210% over the past three years.
On December 13, 2023, CVE announced its 2024 budget, expecting to invest capital of between $4.5 billion and $5.0 billion in 2024. Total upstream production is expected to be between 770,000 and 810,000 barrels of oil equivalent per day (BOE/d), and oil sands and thermal projects production is expected to be between 590,000 and 610,000 barrels per day (bbls/d).
CVE reported revenues of C$13.13 billion ($9.60 billion) during the fourth quarter that ended December 31, 2023, and its earnings before income tax were C$974 million ($711.81 million) for the quarter. The company's net earnings came in at C$743 million ($542.99 million) and C$0.39 per share, respectively.
Furthermore, as of December 31, 2023, the company's cash and cash equivalents and total assets stood at C$2.23 billion ($1.63 billion) and C$53.91 billion ($39.40 billion), respectively.
Analysts expect CVE's revenue for the first quarter (ended March 2024) to increase 14.2% year-over-year to $10.76 billion, and its EPS for the same quarter is expected to grow 40.9% year-over-year to $0.37. For the fiscal year 2024, the company's revenue and EPS are expected to grow 5.8% and 23.4% year-over-year to $41.03 billion and $1.97, respectively.
Shares of CVE have surged 8.5% over the past month and 25.1% over the past year to close the last trading session at $21.28.
CVE's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
CVE has an A grade for Sentiment and a B grade for Growth. It is ranked #13 out of 82 stocks in the <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> industry.
In addition to the POWR Ratings we've stated above, we also have other ratings of CVE for Quality, Momentum, Stability, and Value. Get all CVE ratings <a href="https://stocknews.com/stock/CVE/">here</a>.
Weatherford International plc (<a href="https://stocknews.com/stock/WFRD/">WFRD</a>)
WFRD is an energy services company that offers equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells globally. It operates in three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.
Revenue and EBITDA of WFRD have grown at respective CAGRs of 17.1% and 76.7% over the past three years. The company's tangible book value has increased at a CAGR of 249.5% over the same timeframe.
On December 6, 2023, WFRD was awarded a five-year contract by Petróleo Brasileiro S.A. in Brazil to provide Drill Pipe Riser (DPR) ultra-deepwater offshore intervention systems and services whose operations will commence in March 2025.
The deal reflects the efficiency of WFRD's Intervention Workover Control Systems (IWOCS) and highlights the strength of its Brazilian operations.
On November 3, 2023, WFRD signed a MOU with Honeywell to deliver a combined CygNet&#x2122; SCADA and Honeywell Emissions Management suite for advanced emissions management and accelerating its customers' decarbonization strategy. This provides cutting-edge tools, actionable data, and real-time progress monitoring to enable their net-zero journey.
During the first quarter that ended March 31, 2024, WFRD's total revenues rose 14.5% year-over-year to $1.36 billion. Its operating income increased 25.9% year-over-year to $233 million. Also, net income attributable to Weatherford came in at $123 million or $1.50 per share, indicating growth of 51.8% and 54.6% from the year-ago value, respectively.
In addition, its adjusted EBITDA rose 24.9% from the previous year's quarter to $336 million. The company's adjusted free cash flow grew 203.7% from the year-ago value to $82 million.
Street expects WFRD's revenue and EPS for the second quarter (ending June 2024) to increase 12% and 50.6% year-over-year to $1.43 billion and $1.72, respectively. Furthermore, the company surpassed the consensus revenue estimates in each of the trailing four quarters, which is impressive.
Over the past six months, WFRD's stock has gained 33% and 108.1% over the past year to close the last trading session at $123.65.
WFRD's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has a B grade for Growth, Momentum, and Quality. Within the Energy – Oil &amp; Gas industry, WFRD is ranked #12 of 82 stocks.
<a href="https://stocknews.com/stock/WFRD/">Click here</a> to access additional ratings of WFRD for Sentiment, Stability, and Value.
Gulf Island Fabrication, Inc. (<a href="https://stocknews.com/stock/GIFI/">GIFI</a>)
GIFI operates as a fabricator of steel structures and modules. The company operates through Services; Fabrication; and Shipyard divisions. It offers maintenance, repair, construction, scaffolding, coatings, welding enclosures, and other specialty services on offshore platforms, inland structures, and industrial facilities.
On February 27, GIFI completed the sale of certain excess property, which was part of the company's facilities located in Houma, Louisiana, for net cash proceeds of approximately $8.5 million.
"A key aspect of our strategic transformation has been to improve our resource and facility utilization and the sale of this property at our Houma facility is consistent with this objective," commented Richard Heo, Gulf Island's President and Chief Executive Officer.
For the fourth quarter that ended December 31, 2023, GIFI's revenue increased 16.8% year-over-year to $44.55 million, and its gross profit rose 77.2% from the year-ago value to $8.37 million. The company's operating income of $6.67 million indicates growth of 1656.6% from the prior year's quarter.
In addition, the company's net income came in at $7.09 million or $0.43 per share, up 1191.4% and 975% year-over-year, respectively. Its adjusted EBITDA increased 188.1% from the year-ago value to $6.61 million.
Analysts expect GIFI's EPS for the first quarter (ended March 2024) to increase 100% year-over-year to $0.08. Its revenue for the same period is expected to be $43 million. Moreover, the company topped the consensus revenue estimates in each of the trailing four quarters.
GIFI's stock has surged 67.3% over the past six months and 96.5% over the past year to close the last trading session at $6.76.
GIFI's POWR Ratings reflect its bright prospects. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
GIFI has an A grade for Sentiment and Growth. The stock also has a B grade for Momentum. The stock is ranked #2 among 15 stocks in the <a href="https://stocknews.com/category/energy-drilling/">Energy - Drilling</a> industry.
To access GIFI's other ratings, <a href="https://stocknews.com/stock/GIFI/">click here</a>.
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CVE shares rose $0.07 (+0.33%) in premarket trading Friday. Year-to-date, CVE has gained 28.95%, versus a 7.21% 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/cve-wfrd-gifi-3-energy-stocks-poised-for-rapid-growth-in-may/>3 Energy Stocks Poised for Rapid Growth in May</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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Press Releases

Weatherford Announces Agreement with Honeywell to Deliver Advanced Emissions Management Solution

Weatherford Hosts FWRD Digital Conference Introducing Cutting-Edge Technology

Ascent Industries Appoints John W. "Wes" Johnson as President of Ascent Tubular

Contracts

Weatherford Awarded 10K DPR Intervention Services Contract with Petrobras

Weatherford Announces Fourth-Quarter and Full-Year 2023 Conference Call

Weatherford Announces Fourth Quarter and Full Year 2023 Results

Weatherford Announces First-Quarter 2024 Conference Call

Weatherford Releases 2023 Digital Annual Update

Weatherford Announces $130 Million Credit Facility Increase to $680 Million and Notice to Redeem All of Its 6.50% Senior Notes Due 2028

Weatherford Announces First Quarter 2024 Results and Raises Full Year Margin Guidance

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Weatherford International Stock (NASDAQ:WFRD), Short Interest Report

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