AbCellera Biologics Stock (NASDAQ:ABCL), Trade Ideas

AbCellera Biologics

AbCellera Biologics Inc is an antibody discovery and development engine that's specifically designed to address the barriers of conventional discovery, finding the optimal clinical candidate with greater precision and speed, getting to the clinic and patients sooner. With the integrated AbCellera platform, the company's experts search a wide range of diverse antibodies to select the effective and developable leads fast and set partners up for enduring success. The company have extensive experience forging partnerships with emerging biotechs and pharmaceutical companies. AbCellera leverages proprietary hardware, software, and tools along with the latest data science, to operate as strategic partners and help develop optimized solutions faster for any program.

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ABCL

Benchmark analyst Robert Wasserman reiterated a Buy rating on AbCellera Biologics Inc. (NASDAQ: ABCL), 

Why AbCellera Biologics Is Still A Buy Despite Dropping Royalties: Analyst On Long-Term Prospects

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	Missfresh Limited (NASDAQ: MF) jumped 168% to $1.38 after the company announced entry of share purchase agreements for financing and business acquisition.


Why ResMed Shares Are Trading Lower By 15%? Here Are Other Stocks Moving In Friday&#39;s Mid-Day Session

Pre-Market Outlook

U.S. stock futures traded higher this morning on Friday. Here are some big stocks recording losses in today’s pre-market trading session.

Apple, Fortinet, Microchip Technology And Other Big Stocks Moving Lower In Friday&#39;s Pre-Market Session

AbCellera Biologics Inc

Offerings

SQFT

Presidio Property Trust Inc Files For Mixed Shelf Offering Of Up To $50M

Business Outlook
The Company expects its total revenues to be in the range of RMB310 million to RMB320 million in the first quarter of 2024. This forecast reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change and cannot be predicted with reasonable accuracy as of the date hereof. &nbsp;

Guidance

Scienjoy Holding Sees Q1 2024 Revenue RMB310 Million To RMB320 Million

Fiscal Year 2023 Financial Results
Total revenues decreased by 25.0% to RMB1,464.9 million (US$206.3 million) for the year ended December 31, 2023 from RMB1,953.3 million for the year ended December 31, 2022, primarily caused by decrease of paying users and average revenue per paying user ("ARPPU") due to competitive landscape of China's mobile live streaming market.&nbsp;
Cost of revenues decreased by 23.8% to RMB1,272.1 million (US$179.2 million) for the year ended December 31, 2023 from RMB1,670.1 million for the year ended December 31, 2022. The decrease was primarily attributable to a 23.8%, or RMB362.1 million, year-over-year decrease in the Company's revenue sharing fees and content costs. &nbsp;
Gross profit decreased by 31.9% to RMB192.7 million (US$27.1 million) for the year ended December 31, 2023 from RMB283.2 million for the year ended December 31, 2022.
Total operating expenses increased by 27.4% to RMB169.9 million (US$23.9 million) for the year ended December 31, 2023 from RMB133.4 million for the year ended December 31, 2022.
<ul>
<li>Sales and marketing expenses decreased by 36.3% to RMB1.4 million (US$0.2 million) for the year ended December 31, 2023 from RMB2.1 million for the year ended December 31, 2022, primarily due to fewer marketing activities as the Company tightened the budget based on current operating needs.</li>
<li>General and administrative expenses increased by23.9% to RMB75.6 million (US$10.6 million) for the year ended December 31, 2023 from RMB61.0 million for the year ended December 31, 2022. The increase was primarily due to an increase of RMB4.9 million in employee salary and welfare, an increase of RMB4.0 million in share base compensations and an increase of RMB2.5 million office renovation expenses.</li>
<li>Research and development expenses increased by 11.2% to RMB75.1 million (US$10.6 million) for the year ended December 31, 2023 from RMB67.5 million for the year ended December 31, 2022, due to an increase of RMB7.5 million in employee salary and welfare.</li>
<li>Provision for doubtful accounts increased by 552.2% to RMB17.9 million (US$2.5 million) for the year ended December 31, 2023 from RMB2.7 million for the year ended December 31, 2022, primary due to one-time credit loss provision of RMB16.3 million for the loan receivable.</li>
</ul>
Income from operations decreased by 84.8% to RMB22.8 million (US$3.2 million) for the year ended December 31, 2023 from RMB149.8 million for the year ended December 31, 2022. If excluded one-time provision for credit loss of RMB16.3 million, our income from operation would amount to RMB39.1 million (US$5.5 million) for the year ended December 31, 2023.
Change in fair value of contingent consideration amounted to a loss of RMB5.6 million (US$0.8 million) for the year ended December 31, 2023, as compared to a gain of RMB 13.1 million for the year ended December 31, 2022. Change in fair value of contingent consideration is derived from earn out liabilities resulted from historical acquisitions. The fair value of the contingent consideration is re-measured at each reporting period, and the change in fair value is recognized as either income or expense.&nbsp;
Change in fair value of warrants liability&nbsp;decreased to a gain of RMB 0.2 million (US$0.02 million) for the year ended December 31, 2023 from a gain of RMB10.8 million for the year ended December 31, 2022. The fair value of the Company's warrants derivative liability assumed from the SPAC acquisition is re-measured to its fair value at the end of each reporting period, with the change being recorded as other expense or gain.
Change in fair value of investment in marketable security amounted to a loss of RMB9.0 million (US$1.3 million) for the year ended December 31, 2023, as compared with a gain of RMB1.8 million for year ended December 31, 2022. The change was primarily attributable to the fair value changes in investments in publicly traded company.
Investment loss amounted to RMB31.3 million (US$4.4 million) for the year ended December 31, 2023 as compared with an investment income of RMB25.4 million for the year ended December 31, 2022. The investment loss for the year ended December 31, 2023 was primarily attributable to one-time share of unrealized loss of RMB30.7 million in the long-term investments.
Impairment of long-term investments amounted to RMB11.8 million (US$1.7 million) for the year ended December 31, 2023, and no such impairment suffered for the year ended December 31, 2022.
Net loss amounted to RMB35.0 million (US$4.9 million)&nbsp;for the year ended December 31 2023, as compared to a net income of RMB195.2 million for the year ended December 31, 2022.&nbsp;
Net loss attributable to the Company's shareholders amounted to RMB30.8 million (US$4.3 million) for the year ended December 31, 2023, as compared to a net income attributable to the Company's shareholders of RMB193.3 million for the year ended December 31, 2022. If excluded one-time expenses amounting to RMB58.8 million in investment impairment, share of unrealized loss, and provision for credit loss, the Company had net income attributable to the Company's shareholders of RMB28.0 million (US$3.9 million) for the year ended December 31, 2023.
Adjusted net loss attributable to the Company's shareholders&nbsp;amounted to RMB11.7 million (US$1.6 million) for the year ended December 31, 2023, as compared to a net income adjusted attributable to the Company's shareholders of RMB181.4 million for the year ended December 31, 2022.
Basic and diluted net loss attributable to the Company's shareholders per ordinary share were both RMB0.76 (US$0.11) for the year ended December 31, 2023. In comparison, basic and diluted net income attributable to the Company's shareholders per ordinary share were both RMB4.92 for the year ended December 31, 2022.
Adjusted basic and diluted net loss attributable to the Company's shareholders per ordinary share were both RMB0.29 (US$0.04) for the year ended December 31, 2023. In comparison, adjusted basic and diluted net income attributable to the Company's shareholders per ordinary share were both RMB4.62 for the year ended December 31, 2022.
As of December 31, 2023, the Company had&nbsp;cash and cash equivalents of RMB205.5 million (US$28.9 million), which represented an increase of 17.2% from RMB175.3 million as of December 31, 2022.

Earnings

Scienjoy Holding FY23 EPS $(0.04); Revenue $206.3M

Ebang Intl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBON#NASDAQ">EBON</a>) reported quarterly losses of $(5.86) per share. This is a 16.64 percent increase over losses of $(7.03) per share from the same period last year. The company reported $4.86 million in sales this quarter. This is a 84.98 percent decrease over sales of $32.33 million the same period last year.

EBON

Ebang Intl Hldgs FY EPS $(5.86) Up From $(7.03) YoY, Sales $4.86M Down From $32.33M YoY

CB Financial Services (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBFV#NASDAQ">CBFV</a>) reported quarterly earnings of $0.62 per share which beat the analyst consensus estimate of $0.55 by 12.73 percent. This is a 19.48 percent decrease over earnings of $0.77 per share from the same period last year.

Earnings Beats

CBFV

CB Financial Services Q1 Adj $0.62 Beats $0.55 Estimate

CLVR

Trading Halt: Halt status updated at 4:35:00 PM ET: Quotation Resumption: News and Resumption Times

Pagaya Technologies Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pgy#NASDAQ">PGY</a>) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.
Shares of this company have returned -8.4% over the past month versus the Zacks S&amp;P 500 composite&#39;s -3% change. The Zacks Technology Services industry, to which Pagaya Technologies Ltd. belongs, has lost 8% over this period. Now the key question is: Where could the stock be headed in the near term?
Although media reports or rumors about a significant change in a company&#39;s business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Earnings Estimate Revisions
Here at Zacks, we prioritize appraising the change in the projection of a company&#39;s future earnings over anything else. That&#39;s because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors&#39; interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current quarter, Pagaya Technologies Ltd. is expected to post earnings of $0.16 per share, indicating a change of +166.7% from the year-ago quarter. The Zacks Consensus Estimate has changed +17.7% over the last 30 days.
The consensus earnings estimate of $0.98 for the current fiscal year indicates a year-over-year change of +308.3%. This estimate has changed +22.7% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $1.97 indicates a change of +100.5% from what Pagaya Technologies Ltd. is expected to report a year ago. Over the past month, the estimate has changed +8.2%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock&#39;s near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Pagaya Technologies Ltd.
The chart below shows the evolution of the company&#39;s forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue Growth
While earnings growth is arguably the most superior indicator of a company&#39;s financial health, nothing happens as such if a business isn&#39;t able to grow its revenues. After all, it&#39;s nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it&#39;s important to know a company&#39;s potential revenue growth.
In the case of Pagaya Technologies Ltd. the consensus sales estimate of $229.45 million for the current quarter points to a year-over-year change of +22.9%. The $997.77 million and $1.23 billion estimates for the current and next fiscal years indicate changes of +26% and +23.6%, respectively.
Last Reported Results and Surprise History
Pagaya Technologies Ltd. reported revenues of $218.04 million in the last reported quarter, representing a year-over-year change of +13%. EPS of $0.24 for the same period compares with -$0.12 a year ago.
Compared to the Zacks Consensus Estimate of $222.74 million, the reported revenues represent a surprise of -2.11%. The EPS surprise was -33.33%.
The company could not beat consensus EPS estimates in any of the last four quarters. The company topped consensus revenue estimates two times over this period.
Valuation
Without considering a stock&#39;s valuation, no investment decision can be efficient. In predicting a stock&#39;s future price performance, it&#39;s crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company&#39;s growth prospects.
While comparing the current values of a company&#39;s valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock&#39;s price.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Pagaya Technologies Ltd. is graded B on this front, indicating that it is trading at a discount to its peers.
Conclusion
The facts discussed here and much other information on Zacks.com might help determine whether or not it&#39;s worthwhile paying attention to the market buzz about Pagaya Technologies Ltd. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
<a href="https://www.zacks.com/stock/news/2262045/pagaya-technologies-ltd-pgy-is-a-trending-stock-facts-to-know-before-betting-on-it?cid=CS-BENZ-FT-tale_of_the_tape|most_searched_stocks_-_v1-2262045">To read this article on Zacks.com click here.</a>

Tech

Pagaya Technologies Ltd. Is a Trending Stock: Facts to Know Before Betting on It

<div>Pam Transportation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ptsi#NASDAQ">PTSI</a>), the auto industry-focused truckload carrier whose stock has been battered in the past year and beyond, is buying back some of its shares through a process known as a Dutch auction. </div>

Companies buy back their stock frequently but generally do so in a lower-key manner, entering the market as an occasional or frequent buyer operating through the normal processes of the equity markets. Companies often declare their intention to buy back stock over a certain period, but the specifics of those purchases are far less transparent and open-ended than in a Dutch auction.

By contrast, Pam announced the Dutch auction in a press release and in a Securities and Exchange Commission filing Wednesday.

If one of the goals of the Dutch auction was to boost the company's stock price, it was working Thursday. At approximately 1:30 p.m., Pam stock was up $2.97, a gain of 20.43%, to $17.51. <script type="text/javascript">
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Pam's stock set its 52-week high on June 7, 2023, when it reached $28.77. Its 52-week low was $13.51 on Monday, a decline of 53% since the 52-week high.

The stock decline has been more dramatic since its high-water mark of near $40 in November 2022. The percentage decline from the peak to the recent 52-week low is roughly two-thirds. 

Pam has not paid a dividend since a special one-time payout in 2012.

Pam executives are prohibited from discussing the offer while it is in what is known as "quiet time" before an action governed by SEC rules. <script type="text/javascript">
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However, the goals of the auction were set forth in a company filing with the SEC.

"Our Board of Directors has determined that the Offer is a prudent use of our financial resources and presents an appropriate balance between meeting the needs of our business and delivering value to our stockholders" the document said. "Our Board of Directors determined that a cash tender offer is an appropriate mechanism to return capital to stockholders that seek liquidity under current market conditions while, at the same time, allowing other stockholders to share in a higher portion of our future potential."

The auction "provides stockholders (particularly those who, because of the size of their shareholdings, might not be able to sell their shares without potential disruption to the share price) with an opportunity to obtain liquidity with respect to all or a portion of their shares, without potential disruption to the share price and the usual transaction costs associated with market sales."

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One shareholder who fits the bill of not being able to sell without "potential disruption to the share price" is Pam Chairman Matthew Moroun and the trusts his family controls. Those individuals and trusts own more than 50% of the company, according to Pam's 10-K filing with the SEC in March. 

The SEC filings note that management participation in the Dutch auction is permitted.

But even shareholders who get shut out or choose to sit out the auction will benefit, Pam's filing said. "If we complete the offer, stockholders who do not participate in the offer will automatically increase their relative percentage ownership interest in us and our future operations at no additional cost to them" the company said.

In a Dutch auction, shareholders are invited to offer their shares at a designated price. Pam has set the range for bids it will accept as $15.50 to $18. All of the bids are in increments of 50 cents.

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What the Dutch auction offer looks like

Pam then would review the bids and accept up to 550,000 shares at the lowest price it can select to fulfill its goal of buying that quantity. The quantity is about 2.5% of the number of outstanding Pam shares.

Under Dutch auction procedures, the company can choose to accept fewer than 550,000 shares. Pam also can buy shares in excess of 550,000.

The offer is open until May 22.

Master Class, the online education offering, laid out in one of its presentations the pros and cons of a Dutch auction. Its benefits: It is faster than a traditional auction (and the normal process for buying and selling shares is a type of auction); it might benefit a company like Pam because the shareholders looking to sell their shares "don't know what prices the other bidders are willing to pay. This uncertainty can make them more willing to pay a higher price to make a successful bid and quickly achieve closure"; and the process can "help determine the best asking price." For that reason, Dutch auctions are often used to sell shares in an IPO rather than having the underwriters set the price.

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Pam's fortunes have long been tied to the fate of the automotive industry. In its 10-K filing with the SEC for this year, Pam said its top five customers, based on revenue, accounted for about 34% of its revenue. General Motors accounted for about 12%.

Few analysts cover Pam stock. But CFRA, an independent research firm, has a buy rating on the company's stock.

Pam had a tough first quarter. Its revenue net of fuel was $161 million, down from $193.4 million a year earlier. The company was barely profitable, with net earnings of 1 cent per share, but posted an operating loss. A year ago, net income was 23 cents.

The post <a href="https://www.freightwaves.com/news/pam-sets-dutch-auction-to-buy-back-shares-battered-stock-price-soars">Pam sets Dutch auction to buy back shares; battered stock price soars</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.

PTSI

Pam Sets Dutch Auction to Buy Back Shares; Battered Stock Price Soars

Affinity Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFBI#NASDAQ">AFBI</a>) reported quarterly earnings of $0.20 per share. This is a 23.08 percent decrease over earnings of $0.26 per share from the same period last year.

AFBI

Affinity Bancshares Q1 EPS $0.20 Down From $0.26 YoY

In the latest market close, Alibaba (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) reached $75.11, with a +0.64% movement compared to the previous day. This change outpaced the S&amp;P 500&#39;s 0.46% loss on the day. At the same time, the Dow lost 0.98%, and the tech-heavy Nasdaq lost 0.64%.
Shares of the online retailer witnessed a gain of 4.25% over the previous month, beating the performance of the Retail-Wholesale sector with its loss of 3.05% and the S&amp;P 500&#39;s loss of 3.04%.
Market participants will be closely following the financial results of Alibaba in its upcoming release. The company is expected to report EPS of $1.20, down 23.08% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $30.83 billion, up 1.7% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Alibaba. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts&#39; favorable outlook on the company&#39;s business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we&#39;ve formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 9.8% decrease. As of now, Alibaba holds a Zacks Rank of #4 (Sell).
From a valuation perspective, Alibaba is currently exchanging hands at a Forward P/E ratio of 9.01. This expresses a discount compared to the average Forward P/E of 21.16 of its industry.
The Internet - Commerce industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 38, placing it within the top 16% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
<a href="https://www.zacks.com/stock/news/2262738/why-the-market-dipped-but-alibaba-baba-gained-today?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_6-2262738">To read this article on Zacks.com click here.</a>

BABA

Why the Market Dipped But Alibaba Gained Today

USCB Financial Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/uscb#NASDAQ">USCB</a>)&nbsp;came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.21 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 9.52%. A quarter ago, it was expected that this company would post earnings of $0.22 per share when it actually produced earnings of $0.17, delivering a surprise of -22.73%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
USCB Financial, which belongs to the Zacks Banks - Southeast industry, posted revenues of $17.62 million for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 2.30%. This compares to year-ago revenues of $18.07 million. The company has topped consensus revenue estimates just once 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.
USCB Financial shares have lost about 15.1% since the beginning of the year versus the S&amp;P 500&#39;s gain of 6.3%.
What&#39;s Next for USCB Financial?
While USCB Financial 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 USCB Financial: mixed. 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 #3 (Hold) for the stock. So, the shares are expected to perform in line with 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 $0.23 on $17.82 million in revenues for the coming quarter and $0.95 on $73.11 million 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, Banks - Southeast is currently in the top 37% 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 same industry, United Bancorporation of Alabama, Inc. (UBAB), has yet to report results for the quarter ended March 2024.
This company is expected to post quarterly earnings of $1.71 per share in its upcoming report, which represents a year-over-year change of -8.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
United Bancorporation of Alabama, Inc.&#39;s revenues are expected to be $17.93 million, up 5% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2262747/uscb-financial-holdings-inc-uscb-q1-earnings-and-revenues-top-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2262747">To read this article on Zacks.com click here.</a>

USCB

USCB Financial Holdings, Inc. Q1 Earnings and Revenues Top Estimates

The world&#39;s largest software maker &mdash; Microsoft (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) &mdash; reported strong third-quarter fiscal 2024 results, beating earnings and revenue estimates. driven by strong demand for cloud and artificial intelligence offerings. 
Buoyed by robust results, shares of MSFT jumped as much as 5% in after-market hours. Investors could tap the opportune moment in this software leader through ETFs having double-digit exposure to Microsoft. These are Select Sector SPDR Technology ETF (ARCA:XLK), MSCI Information Technology Index ETF (ARCA:FTEC), iShares Global Tech ETF (ARCA:IXN), Vanguard Information Technology ETF (ARCA:VGT) and iShares Dow Jones US Technology ETF (ARCA:IYW).
<h3>Earnings in Focus</h3>
Earnings per share came in at $2.94, beating the Zacks Consensus Estimate of $2.81 and were 20% higher than the year-ago earnings. Revenues grew 17% year over year to $61.9 billion, edging past the consensus estimate of $60.63 billion. 
Intelligent Cloud revenues jumped 21% year over year. Sales of Office 365 Commercial and Dynamic 365 climbed 15% and 23%, respectively. Sales of the flagship Azure computing platform grew 31% year over year. 
The software maker invested billions of dollars into AI in a bid to turbocharge its growth, particularly its cloud computing services, and is now reaping the fruits. About 7% of the increase in Azure revenues came from AI. Microsoft CEO Satya Nadella said on a call that 65% of Fortune 500 companies are using the Azure service that delivers OpenAI&#39;s technology to businesses. Demand for generative AI will continue to fuel Microsoft&#39;s cloud business. 
Microsoft is now emphasizing AI transformation through its new offerings like Microsoft Copilot. &quot;Microsoft Copilot and Copilot stack are orchestrating a new era of AI transformation, driving better business outcomes across every role and industry&quot; Nadella said. 
Microsoft expects revenues of $63.5-$64.5 billion for fiscal fourth-quarter 2024. The Zacks Consensus Estimate is pegged at $64.49 billion.
<h3>ETFs in Focus</h3>
Select Sector SPDR Technology ETF (ETF:XLK) 
Select Sector SPDR Technology ETF is the most popular and liquid ETF in the technology space, with AUM of $61.8 billion and an average daily volume of 7 million shares. It offers broad exposure to the technology sector and follows the Technology Select Sector Index. Select Sector SPDR Technology ETF holds about 65 securities in its basket, with Microsoft occupying the top position at 23.5%. 
Select Sector SPDR Technology ETF charges 9 bps in fees per year from investors and has a Zacks ETF Rank #1 with a Medium risk outlook. 
MSCI Information Technology Index ETF (FTEC) 
MSCI Information Technology Index ETF is home to 303 technology stocks with AUM of $9.1 billion. It follows the MSCI USA IMI Information Technology Index. Microsoft is the top firm with an 18.3% allocation. 
MSCI Information Technology Index ETF has 0.08% in expense ratio, while volume is solid at 253,000 shares a day. It carries a Zacks ETF Rank #1 with a Medium risk outlook. 
iShares Global Tech ETF (ETF:IXN) 
iShares Global Tech ETF provides exposure to electronics, computer software and hardware, and informational technology companies by tracking the S&amp;P Global 1200 Information Technology 4.5/22.5/45 Capped Index. Holding 117 stocks in its basket, Microsoft occupies the top spot with a 20.1% share. 
iShares Global Tech ETF has amassed $4.2 billion in its asset base and trades in a good volume of 223,000 shares a day, on average. The expense ratio is 0.41%. 
Vanguard Information Technology ETF (ETF:VGT) 
Vanguard Information Technology ETF manages about $61.3 billion in its asset base and provides exposure to 313 technology stocks. It currently tracks the MSCI US Investable Market Information Technology 25/50 Index. Here, MSFT occupies the top position with an 18.3% share. 
Vanguard Information Technology ETF has an expense ratio of 0.10%, while volume is solid at nearly 434,000 shares. It has a Zacks ETF Rank #1 with a Medium risk outlook. 
iShares U.S. Technology ETF (ETF:IYW) 
iShares U.S. Technology ETF provides exposure to U.S. electronics, computer software and hardware, and informational technology companies. It tracks the Russell 1000 Technology RIC 22.5/45 Capped Index, holding 131 securities in its basket. Of these, Microsoft occupies the top position in the basket, with 18.6% of the assets. 
iShares Dow Jones US Technology ETF has AUM of $15.8 billion and charges 40 bps in fees and expenses. Volume is good as it exchanges nearly 909,000 shares a day. IYW has a Zacks ETF Rank #1 with a Medium risk outlook.
<a href="https://www.zacks.com/stock/news/2263342/etfs-to-buy-as-cloud-ai-power-microsoft-s-q3-earnings?cid=CS-BENZ-FT-etf_news_and_commentary-2263342">To read this article on Zacks.com click here.</a>

ETFs

FTEC

iShares Trust S&P Global Information Technology Sector Index Fund

iShares Dow Jones US Technology Sector Index Fund

MSFT

ETFs to Buy as Cloud, AI Power Microsoft's Q3 Earnings

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores?
The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value Score
Value investors love finding good stocks at good prices, especially before the broader market catches on to a stock&#39;s true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth Score
Growth investors, on the other hand, are more concerned with a company&#39;s financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum Score
Momentum traders and investors live by the saying &quot;the trend is your friend.&quot; This investing style is all about taking advantage of upward or downward trends in a stock&#39;s price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM Score
If you like to use all three kinds of investing, then the VGM Score is for you. It&#39;s a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company&#39;s earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank&#39;s success, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988, more than double the S&amp;P 500&#39;s performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That&#39;s where the Style Scores come in.
You want to make sure you&#39;re buying stocks with the highest likelihood of success, and to do that, you&#39;ll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only as a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock&#39;s earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Hasbro
Based in Pawtucket, RI, Hasbro Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/has#NASDAQ">HAS</a>) is engaged in the design, manufacture and marketing of games and toys. The company, founded in 1923, offers traditional, high-tech and digital toys, games and licensed products under various well-known brands.
HAS is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. HAS has a Growth Style Score of A, forecasting year-over-year earnings growth of 35.1% for the current fiscal year.
Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.12 to $3.39 per share. HAS boasts an average earnings surprise of 17.5%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, HAS should be on investors&#39; short list.
<a href="https://www.zacks.com/stock/news/2263284/here-s-why-hasbro-has-is-a-strong-growth-stock?cid=CS-BENZ-FT-tale_of_the_tape|zacks_education_growth_score-2263284">To read this article on Zacks.com click here.</a>

Here's Why Hasbro is a Strong Growth Stock

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores?
Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value Score
Finding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth Score
Growth investors, on the other hand, are more concerned with a company&#39;s financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum Score
Momentum trading is all about taking advantage of upward or downward trends in a stock&#39;s price or earnings outlook, and these investors live by the saying &quot;the trend is your friend.&quot; The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM Score
If you like to use all three kinds of investing, then the VGM Score is for you. It&#39;s a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company&#39;s earnings expectations, to help investors build a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +25.41% average annual return since 1988, which is more than double the S&amp;P 500&#39;s performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That&#39;s where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock&#39;s earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Dropbox (DBX)
Dropbox (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dbx#NASDAQ">DBX</a>) offers a cloud-based platform that businesses and individuals can create, access and share digital content globally. It serves more than 700 million registered users across approximately 180 countries.
DBX is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. DBX has a Growth Style Score of B, forecasting year-over-year earnings growth of 1.5% for the current fiscal year.
One analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0 to $2.01 per share. DBX boasts an average earnings surprise of 13.5%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, DBX should be on investors&#39; short list.
<a href="https://www.zacks.com/stock/news/2263290/here-s-why-dropbox-dbx-is-a-strong-growth-stock?cid=CS-BENZ-FT-tale_of_the_tape|zacks_education_growth_score-2263290">To read this article on Zacks.com click here.</a>

Here's Why Dropbox is a Strong Growth Stock

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Applied Materials (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amat#NASDAQ">AMAT</a>) one of those stocks right now? A quick glance at the company&#39;s year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Applied Materials is a member of the Computer and Technology sector. This group includes 618 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Applied Materials is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMAT&#39;s full-year earnings has moved 5.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock&#39;s earnings outlook is more positive.
According to our latest data, AMAT has moved about 21.9% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 7.3% on a year-to-date basis. As we can see, Applied Materials is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is D-Wave Quantum Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/qbts#NYSE">QBTS</a>). The stock is up 68.2% year-to-date.
Over the past three months, D-Wave Quantum Inc.&#39;s consensus EPS estimate for the current year has increased 35.7%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Applied Materials belongs to the Semiconductor Equipment - Wafer Fabrication industry, a group that includes 4 individual stocks and currently sits at #93 in the Zacks Industry Rank. On average, this group has gained an average of 19.3% so far this year, meaning that AMAT is performing better in terms of year-to-date returns.
D-Wave Quantum Inc. however, belongs to the Internet - Software industry. Currently, this 139-stock industry is ranked #62. The industry has moved +8.4% so far this year.
Applied Materials and D-Wave Quantum Inc. could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
<a href="https://www.zacks.com/stock/news/2263248/is-applied-materials-amat-outperforming-other-computer-and-technology-stocks-this-year?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_1-2263248">To read this article on Zacks.com click here.</a>

AMAT

QBTS

Is Applied Materials Outperforming Other Computer and Technology Stocks This Year?

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores?
The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value Score
Finding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth Score
Growth investors, on the other hand, are more concerned with a company&#39;s financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum Score
Momentum traders and investors live by the saying &quot;the trend is your friend.&quot; This investing style is all about taking advantage of upward or downward trends in a stock&#39;s price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM Score
If you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It&#39;s also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank
A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company&#39;s earnings outlook, to help investors create a successful portfolio.
It&#39;s highly successful, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988. That&#39;s more than double the S&amp;P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That&#39;s where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock&#39;s earnings estimate revisions should be a key factor when choosing which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Dell Technologies 
Dell Technologies&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dell#NYSE">DELL</a>) is a leading provider of servers, storage and PCs. It offers secure, integrated solutions that extend from the edge to the core to the cloud. Dell&#39;s IT solutions support customers both in traditional infrastructure and multi-cloud environments. &nbsp;
DELL is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 16.34; value investors should take notice.
Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2025. The Zacks Consensus Estimate has increased $0.54 to $7.64 per share. DELL boasts an average earnings surprise of 39.9%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, DELL should be on investors&#39; short list.
<a href="https://www.zacks.com/stock/news/2263258/here-s-why-dell-technologies-dell-is-a-strong-value-stock?cid=CS-BENZ-FT-tale_of_the_tape|zacks_education_value_score-2263258">To read this article on Zacks.com click here.</a>

DELL

Here's Why Dell Technologies is a Strong Value Stock

Colgate-Palmolive Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cl#NYSE">CL</a>) has reported first-quarter 2024 results, wherein the top and bottom lines beat the Zacks Consensus Estimate and improved year over year. Results have benefited from strong top-line growth, improved organic volume performance, and gross and operating profit margin expansions. Notably, the company delivered double-digit growth in operating profit, net income and earnings per share for the third consecutive quarter. 
On a Base Business basis (non-GAAP basis), earnings were 86 cents per share, up 18% from the prior-year period. The bottom line surpassed the Zacks Consensus Estimate of 82 cents. 
Net sales of $5,065 million increased 6.2% from the year-ago quarter and beat the Zacks Consensus Estimate of $4,951 million. On an organic basis, the company&#39;s sales advanced 9.8%. The sales momentum was mainly driven by organic sales growth in each of the six divisions and across all four categories. The rise was also aided by mid-teen growth in oral care compared with double-digit growth last year. 
Following the strong first-quarter 2024 results, shares of Colgate rallied 1.7% in the pre-market trading session on Apr 26, 2024. Shares of this Zacks Rank #2 (Buy) company have rallied 6.4% in the past three months compared with the industry&#39;s growth of 4.5%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/15/65757.jpg?v=2064236889" /> 
Image Source: Zacks Investment Research
<h3>Q1 Details</h3>
Total volumes were up 1.3% year over year on an organic and reported basis, attributed to sequential growth in North America and Europe. Meanwhile, pricing improved 8.5%, backed by positive pricing across all six divisions. Currency negatively impacted sales growth by 3.6% in the quarter. Strong currency in Mexico, Colombia, Brazil and Europe was more than offset by weakness in Argentina, T&uuml;rkiye and Nigeria. 
We estimated organic sales growth of 4.3% for the first quarter, with a 7.8% rise in pricing and a 3.5% decline in volume. 
Gross profit of $3,039 million increased 12.1% year over year. The gross profit margin expanded 310 basis points (bps) to 60% on both GAAP and adjusted basis. We expected a gross margin expansion of 150 bps to 58.4% for the first quarter.
<div class="chart_embed">
<h3>Colgate-Palmolive Company Price, Consensus and EPS Surprise</h3>
<a href="https://www.zacks.com/stock/chart/CL/price-consensus-eps-surprise-chart?icid=chart-CL-price-consensus-eps-surprise-chart"><img alt="Colgate-Palmolive Company Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/f9/1714142210.png" style="height:265px; width:574px" title="" /> </a>
Colgate-Palmolive Company price-consensus-eps-surprise-chart | Colgate-Palmolive Company Quote
</div>
Selling, general and administrative (SG&amp;A) expenses grew 9% year over year to $1,916 million. As a percentage of net sales, SG&amp;A expenses expanded 90 bps year over year to 37.8%. We predicted SG&amp;A expenses, as a percentage of revenues, to expand 40 bps to 37.3%. 
The company&#39;s adjusted operating profit of $1,083 million advanced 15% year over year. The adjusted operating profit margin was up 170 bps year over year to 21.4% despite continued investments in advertising. 
Colgate&#39;s global market share in the manual toothbrushes category has reached 31.7% year to date. The company has maintained its leadership position in the global toothpaste market, with a market share of 41.3% year to date.
<h3>Segmental Discussion</h3>
North America&#39;s net sales (20% of total sales) rose 4% year over year on both reported and organic basis. The segment gained from a 1.2% increase in pricing and a 2.9% rise in volume. The segment witnessed volume growth, backed by gains in toothpaste, liquid hand soap, manual toothbrushes and body wash. The segment&#39;s hello brand reported strong sales and market share growth across oral care and personal care. 
Latin America&#39;s net sales (25% of the total sales) advanced 16.5% year over year on 19.7% pricing gains and a 6.2% increase in volume, offset by a 9.4% unfavorable currency impact. On an organic basis, sales rose 25.9%, led by volume growth across all countries in the region, except for Argentina. 
Europe&#39;s net sales (14% of the total sales) increased 9.5% year over year on a reported basis and 7.2% on an organic basis. Sales growth was driven by a 3.1% rise in volume, a 4.1% pricing gain and a 2.3% favorable currency impact. During the quarter, Europe returned to volume growth for the first time since second-quarter 2021 mainly on the back of strong performances in the U.K. and France. 
The Asia Pacific segment&#39;s net sales (14% of the total sales) declined 1.5% year over year, reflecting a 2.9% decline in volumes and a 3% adverse impact of currency, partly offset by a 4.4% rise in pricing. Organic sales improved 1.5% due to gains across oral care, personal care and home care. 
Africa/Eurasia&#39;s net sales (5% of the total sales) declined 4.5% year over year due to a 20.7% unfavorable currency impact, offset by a 3.9% increase in volume and 12.2% growth in pricing. Organic sales for the segment grew 16.2%, driven by strong pricing and volume growth. Volume growth mainly stemmed from continued double-digit growth in toothpaste and strength in body wash. 
Hill&#39;s Pet Nutrition&#39;s net sales (22% of the total sales) improved 3.9% from the year-ago quarter on a reported basis and 4.2% on an organic basis. Results have gained from an 8.2% increase in pricing, offset by a 3.9% decline in volume and a 0.3% negative currency impact. The segment&#39;s volume was impacted by lower volume from private labels. Despite soft volumes, the segment benefited from continued volume and market share growth for its Hill&#39;s Science Diet and Hill&#39;s Prescription Diet across the specialty channels, driven by its science-led innovation and momentous increases in brand support.
<h3>Other Financial Details</h3>
Colgate ended first-quarter 2024 with cash and cash equivalents of $1,079 million, and a total debt of $8,689 million. Net cash provided by operating activities was $681 million for the first three months of 2024. The free cash flow before dividends was $555 million.
<h3>Outlook</h3>
Management has raised its sales forecast for 2024 and has reaffirmed its adjusted earnings per share view. Colgate anticipates net sales growth of 2-5% compared with 1-4% growth mentioned earlier. The revised sales view includes a mid-single-digit negative impact of currency compared with a low-single-digit negative impact expected earlier. The company expects organic sales growth of 5-7% for 2024 versus 3-5% growth mentioned earlier. 
CL foresees gross profit margin expansion on both GAAP and adjusted basis, driven by continued pricing gains, benefits from revenue growth management initiatives and strength in the funding-the-growth program. On both GAAP and adjusted basis, the company anticipates higher advertising investment for 2024, resulting in an increase in advertising costs both on a dollar basis and as a percentage of sales. The company expects the tax rate for 2024 to be 24-25% on both a GAAP and adjusted basis. 
Colgate expects adjusted earnings per share to grow in the mid to high-single digits. On a GAAP basis, earnings per share are expected to increase in the double digits.
<h3>Other Stocks to Consider</h3>
Helen of Troy (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hele#NASDAQ">HELE</a>), a leading consumer products player that operates through a diversified portfolio of renowned brands, currently carries a Zacks Rank #2. HELE has a trailing four-quarter earnings surprise of 8.9%, on average. 
The Zacks Consensus Estimate for Helen of Troy&#39;s current fiscal-year sales and earnings suggests growth of 0.4% and 8.5%, respectively, from the year-ago quarter&#39;s reported figures. 
Celsius (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/celh#NASDAQ">CELH</a>), which specializes in commercializing healthier, nutritional functional foods, beverages and dietary supplements, currently carries a Zacks Rank #2. CELH has a trailing four-quarter earnings surprise of 67.4%, on average. 
The Zacks Consensus Estimate for Celsius&#39; current financial year&#39;s sales and EPS suggests growth of 41.62% and 41.56%, respectively, from the year-ago reported numbers. 
Kraft Heinz Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/khc#NASDAQ">KHC</a>), one of the largest consumer packaged food and beverage companies in North America, currently carries a Zacks Rank #2. The company has a trailing four-quarter earnings surprise of 7.6%, on average. 
The Zacks Consensus Estimate for Kraft Heinz&#39;s current financial-year sales and earnings suggests growth of 0.5% and 1.3%, respectively, from the year-ago period&#39;s reported figures.
<a href="https://www.zacks.com/stock/news/2263525/colgate-cl-stock-up-on-q1-earnings-sales-beat-raised-view?cid=CS-BENZ-FT-analyst_blog|earnings_article-2263525">To read this article on Zacks.com click here.</a>

CELH

HELE

Colgate Stock Up on Q1 Earnings & Sales Beat, Raised View

DoorDash (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dash#NASDAQ">DASH</a>) is set to release its first-quarter 2024 results on May 1. 
The Zacks Consensus Estimate for the top line is currently pegged at $2.45 billion, suggesting a 20.63% increase year over year. 
The consensus mark for loss is estimated to be 7 cents per share, unchanged in the past 30 days. DASH reported a loss of 41 cents per share in the year-ago quarter. 
The company&#39;s earnings surpassed the Zacks Consensus Estimate in two of the trailing four quarters while missing the same twice, the average surprise being 20.5%.
<div class="chart_embed">
<h3>DoorDash, Inc. Price and EPS Surprise</h3>
<a href="https://www.zacks.com/stock/chart/DASH/price-eps-surprise?icid=chart-DASH-price-eps-surprise"><img alt="DoorDash, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/54/1714134986.png" style="height:297px; width:620px" title="" /> </a>
DoorDash, Inc. price-eps-surprise | DoorDash, Inc. Quote
</div>
Let&#39;s see how things have shaped up for this announcement:
&nbsp;
<h3>Factors to Consider</h3>
DoorDash&#39;s first quarter 2024 performance is expected to have benefited from strong total orders and Marketplace GOV, alongside enhanced logistics efficiency and an increasing contribution from advertising. 
For the first quarter of 2024, DoorDash anticipates Marketplace GOV in the range of $18.5-$18.9 billion. The Zacks Consensus Estimate for first-quarter Marketplace GOV is pegged at $18.80 billion, suggesting 18.18% year-over-year growth. 
DoorDash&#39;s expanding partner network, namely Eataly, El Super and Fiesta Mart, to broaden the reach of on-demand grocery delivery across multiple regions is expected to have boosted total orders growth in the quarter under review. 
In the fourth quarter of 2023, total orders increased 23% year over year to $574 million. The Zacks Consensus Estimate for first-quarter total orders stands at $606 million, suggesting 18.3% year-over-year growth. 
DoorDash&#39;s growing efforts to expand its grocery offerings, improve user experience and increase DashPass adoption and the retention of customers are expected to have boosted growth in the grocery category in the to-be-reported quarter. 
The company&#39;s growing investments across new business verticals such as convenience, retail and DashMarts are expected to have been tailwinds for the company. 
Increasing monthly active users with strong contributions from domestic and international markets is expected to have aided DASH&#39;s top-line growth. 
However, DoorDash is facing extensive competition in the largest category of its business, which is a headwind.
<h3>What Our Model Says</h3>
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That&#39;s the exact case here. 
DoorDash has an Earnings ESP of +260.98% and a Zacks Rank #2 at present.
<h3>Other Stocks to Consider</h3>
Here are some other companies worth considering, as our model shows that these, too have the right combination of elements to beat on earnings in their upcoming releases: 
Arista Networks (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anet#NYSE">ANET</a>) has an Earnings ESP of +2.49% and a Zacks Rank #1. 
Arista Networks&#39; shares have gained 15% year to date. ANET is set to report its first-quarter 2024 results on May 7. 
Docebo (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dcbo#NASDAQ">DCBO</a>) has an Earnings ESP of +8% and a Zacks Rank #1. 
Docebo&#39; shares have declined 9.1% year to date. DCBO is set to report its first-quarter 2024 results on May 9. 
Amazon.com (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) has an Earnings ESP of +6.19% and a Zacks Rank #2. 
Amazon.com&#39;s shares have gained 14.3% year to date. AMZN is set to report its first-quarter 2024 results on Apr 30.
<a href="https://www.zacks.com/stock/news/2263495/doordash-dash-to-report-q1-earnings-what-s-in-store?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2263495">To read this article on Zacks.com click here.</a>

ANET

DASH

DCBO

DoorDash to Report Q1 Earnings: What's in Store?

The giant web3 brand Yuga Labs hired an experienced marketing executive as its Head of Brand Partnerships.&nbsp;Won Kim joined Yuga after co-founding the web3 consulting agency and NFT fund Bored Room Ventures. The position not only requires forging new brand collaborations but also staying up-to-date with social media and gaming trends and working with Yuga Labs senior executives on implementing a business development strategy.&nbsp;
Read the <a href="https://www.theblock.co/post/291160/yuga-labs-hires-media-veteran-won-kim-as-head-of-brand-partnerships?utm_source=benzinga&amp;utm_medium=rss&amp;utm_campaign=Yuga+Labs+hires+media+veteran+Won+Kim+as+head+of+brand+partnerships">full story</a> at The Block.

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

Cryptocurrency

Yuga Labs Hires Media Veteran Won Kim as Head of Brand Partnerships

<div>The time it takes to fuel a hydrogen-powered fuel cell truck is already on par with diesel. But there is still a yawning gap when it comes to comparable driving range. A new hydrogen storage system that packs more energy density might change that.</div>

The goal of hydrogen and battery-electric trucks is to reduce the 12% of greenhouse gas emissions attributed to heavy-duty trucking.

<h2 id="h-chill-out-verne-goes-deep-into-minus-celsius-for-cryo-compression">Chill out: Verne goes deep into minus celsius for cryo-compression</h2>

San Francisco-based startup Verne is named after 19th Century science fiction pioneer Jules Verne,. He predicted the eventual use of hydrogen as a fuel in his 1875 book The Mysterious Island.

Verne is developing high-density hydrogen storage systems. It says its cryo-compressed hydrogen technology (CcH2) could improve range and payload for hydrogen-powered fuel cell trucks and hydrogen internal combustion engines (ICE) by up to 87%.

Let's get the chemistry lesson out of the way first. The CcH2 comparison is to 700 bar. That's a metric unit for fueling that equates to slightly more than 10,000 pounds of pressure per square inch. At 350 bar, or 5,000 psi, Verne expects 200% greater hydrogen-storage density operating at less than 400 bar. Compared to liquid hydrogen, Verne projects 33% greater efficiency. 

Cryo-compressed hydrogen is minus 200 degrees Celsius compared to compressed gaseous hydrogen. Gaseous hydrogen is kept at an ambient temperature of about 25 C. So, CcH2 is 225 C colder than compressed hydrogen. It is about 50 degrees Celsius warmer than liquid hydrogen, which is chilled to minus 253 C.

<h2 id="h-comparisons-to-diesel-driving-range">Comparisons to diesel driving range</h2>

For comparison, the Nikola (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nkla#NASDAQ">NKLA</a>) Tre fuel cell electric vehicle with a 200kW fuel cell advertises a maximum range of up to 500 miles on a liquid hydrogen fillup of 70kg at 700 bar. The Hyundai Xcient fuel cell truck has twin 90kW fuel cells and seven H2 tanks that allow a 400-mile range with a full load. A truck running on diesel fuel can travel 1,000 miles or more between fill-ups. 

<img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/25/042624-TT115-Hyla-fueling-station-1200x800.jpg" />

Nikola recently opened a liquid hydrogen fueling station in Ontario, California, that can accommodate 30 fuel cell trucks a day. (Photo: Nikola)

Meeting or exceeding diesel driving range is critical to broaden hydrogen adoption for long-haul trucking. This is especially true as manufacturers embrace H2 ICE led by Cummins' 15-liter offering for 2028.

<h2 id="h-verne-technology-still-theoretical">Verne technology still theoretical</h2>

Verne's technology is still mostly theoretical. It plans to conduct real-world testing this year with fleets in Alberta, Canada. Verne will retrofit a diesel engine to run on a hydrogen-diesel blend. It tested its technology on a smaller vehicle in late 2023.

Earlier in April, the company closed a strategic capital raise led by Trucks Venture Capital. That brought Verne's total funding to $15.5 million, including grants like one announced Wednesday from Alberta Innovates. It will fund engine development and demonstration in collaboration with Diesel Tech Industries.

Verne worked with Lawrence Livermore National Laboratory on a 29-kilogram storage system. The system boasts three times greater capacity than previously known examples. Two such systems mounted to a Class 8 truck could enable a range exceeding 500 miles, according to Verne analysis.

<img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/25/042624-TT115-Verne-hydrogen.jpg" />

The Verne cryo-compressed hydrogen system could be 33% more energy-dense and efficient than liquid hydrogen. (Photo: Verne)

The energy stored in one 29-kg CcH2 tank is roughly equivalent to a 1 megawatt-hour battery storage system. It weighs about 882 pounds compared to a 1 megawatt-hour battery, which tips the scales at more than 11,000 pounds.

"Verne has developed high-density, lightweight hydrogen storage systems for use onboard heavy-duty vehicles at low cost" David Jaramillo, co-founder of Verne, said in a December news release. "Our solution builds upon decades of research pioneered at Livermore to provide a reliable, scalable and cost-effective storage solution."

<h2 id="h-what-s-next">What's next?</h2>

On the hardware side, Verne is working with Arta, a Diez, Germany-based maker of coupling and connector systems. They are jointly developing receptacles for CcH2 truck refueling stations. The goal is creating high-performance equipment for a trucking refueling network. 

Verne is also developing a mobile CcH2 refueler. It will be used to support Verne's truck demonstrations, Pat Donley, Verne business operations manager, told me in an email. The company is working toward 10-minute refueling for 500 miles of driving range. A Nikola Tre fillup takes about 20 minutes.

"We are in discussions with many traditional OEMs, for both hydrogen combustion engines and fuel cells, as well as fuel cell makers" Donley said. "We've worked on paid technology evaluations with two major companies, and are now in discussions about commercial pilots with several companies."

Nikola and fuel cell maker Hyzon Motors declined comment on CcH2.

Verne is also working with ZeroAvia on using CcH2 on board aircraft and for refueling from gaseous and liquid hydrogen.

<h2 id="h-veggie-tales-volvo-and-mack-switch-to-renewable-diesel-factory-fills">Veggie tales: Volvo and Mack switch to renewable diesel factory fills</h2>

In the same week that new research showed renewable diesel fuel would cost a fifth as much as converting the nation's trucking fleet to run on electricity, Volvo Trucks North America and sibling Mack Trucks said they would begin filling new trucks at their factories with hydrotreated vegetable oil (HVO) fuel.

Using waste products as feedstocks — similar to renewable natural gas — HVO production can promote a more sustainable circular economy by converting waste into fuel.

HVO has the same chemical and physical properties as diesel fuel but with a lower carbon content. Volvo and Mack engines made in Hagerstown, Maryland, need no modifications to operate on up to 100% renewable diesel.

<h2 id="h-atri-pegs-renewable-diesel-at-a-fifth-of-battery-electric-truck-cost">ATRI pegs renewable diesel at a fifth of battery-electric truck cost</h2>

The American Transportation Research Institute reported Tuesday that the 15-year price tag of switching from petroleum-based diesel to renewable diesel would be about $203 billion. That is about a fifth of the $1 trillion estimate of converting to battery-electric vehicles.

<img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/25/042624-TT115-Renewable-diesel-1200x823.jpg" />

New Volvo and Mack Trucks are being fueled with hydrotreated vegetable oil, a renewable diesel fuel, at the Volvo Trucks North America New River Valley Plant in Virginia and at the Mack plant in Lower Macungie, Pennsylvania. (Photo: Volvo Trucks North America)

Volvo (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vlvly#OTC">VLVLY</a>) described the initiative as part of a broader strategy to decarbonize the industry. It is starting that by enhancing internal combustion engine efficiency with drop-in renewable fuels. The two continue to scale electric trucks. Notably the Class 8 Volvo VNR Electric, and the Mack LR refuse truck and MD Class 6-7.

Volvo is part of cellcentric, a joint venture with Daimler Truck developing hydrogen fuel cell-powered trucks. 

"Today and for the foreseeable future there will not be a one-size fits all approach to decarbonizing transportation" VTNA President Peter Voorhoeve said in a news release. 

Each new diesel-powered truck leaves the NRV plant with 20 to 25 gallons of HVO per tank. Trucks destined for end customers get a full tank of HVO. Volvo estimates it will replace 1,125,000 gallons of fossil-based diesel annually, cutting 75% to 85% of carbon dioxide emissions from its operations.

<hr />

On the other hand …

In a new report, telematics leader Geotab says that data from more than 750,000 light-duty commercial vehicles in North America and Europe suggests nearly four in 10 of them in the U.S. are good candidates to switch to battery-electric mobility.

While excluding heavy-duty trucks, the analysis found that replacing every suitable internal combustion engine (ICE) vehicle with an electric vehicle could save 2.2 billion gallons of fuel while avoiding 19 million metric tons of CO2 emissions over the next seven years.

On a cost and range basis, 38% of U.S. commercial light-duty ICE vehicles could be replaced with an EV equivalent right now, Geotab said.

By the numbers, each EV-suitable commercial vehicle replacement over its lifespan would save on average $15,000, avoid the use of 7,800 gallons of fuel and avoid generating 68 tons of CO2 emissions.

"By leveraging real-world data insights, we can demonstrate the operational and economic viability of EVs across a wide range of fleet applications" Eric Mallia, Geotab's vice president of Sustainability Solutions, said in a news release.

While the study does not directly address the paucity of electric charging  infrastructure, it said scheduled charging saves money and reduces the need to upgrade electrical systems. Since most local delivery trucks spend more than half of their time parked in a 24-hour period, opportunities abound to schedule charging.

<hr />

<div><iframe height="281" src="https://www.youtube.com/embed/FEfYvTfcboo?feature=oembed" width="500"></iframe></div>

Jim Nebergall, general manager of Cummins' hydrogen engine business, does not see meaningful hydrogen fueling infrastructure being available for the company's X15H hydrogen internal combustion engine before 2028.

<h2 id="h-briefly-noted">Briefly noted …</h2>

Paccar Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pcar#NASDAQ">PCAR</a>) reports Q1 earnings next week. It is one of 14 S&amp;P 500 stocks with both a 10% share or higher share price gain and a dividend exceeding 3%, according to Seeking Alpha.

Shareholder advocate As You Sow wants Cummins (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmi#NYSE">CMI</a>) shareholders to establish a link between emissions reductions and executive compensation. The company board opposes the proposal.

Megawatt charging became a reality for Daimler Truck's Mercedes-Benz (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mbgaf#OTC">MBGAF</a>) eActros 600 during testing in Germany.

<img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/25/042624-TT115-eActros-600-MCS-1200x801.jpg" />

The Mercedes Benz eActros 600 gets a megawatt charge of electricity, the first truck known to take such a high charging rate. (Photo: Daimler Truck)

Peterbilt is introducing Digital Vision System-Mirrors in the Models 579 and 567, accelerating a trend that could eventually lead to the end of boxy, aero-defeating  50-inch side mirrors.

<img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/25/042624-TT115-Peterbilt-VMS-1200x817.jpg" />

When approved for regular production, A-pillar mounted video cameras could replace the bulky, outsized mirrors and improve aerodynamics and safety. (Photo: Peterbilt)

<hr />

The post <a href="https://www.freightwaves.com/news/really-cold-hydrogen-could-bring-driving-range-parity-with-diesel">Really cold hydrogen could bring driving range parity with diesel</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.

MERCEDES BENZ GROUP AG by Mercedes Benz Group AG

MBGAF

NKLA

PCAR

VLVLY

Really Cold Hydrogen Could Bring Driving Range Parity with Diesel

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Investors know that the world of <a href="https://investorplace.com/industries/healthcare/biotech/">biotech stocks</a> is home to a great percentage of opportunities that can triple and quadruple their capital. It&rsquo;s also fairly easy to identify such stocks using screener tools that can tease out such opportunities. Investors willing to pursue these opportunities are clearly those who have a penchant for risk seeking behavior. Of course, risk and reward go hand in hand and the rewards here can be great.



<h2>AbCellera Biologics (ABCL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/10/lab-300x169.jpg" alt="Scientists in a lab"><div>Source: Matej Kastelic / Shutterstock</div></div>AbCellera Biologics (NASDAQ:<a href="https://investorplace.com/stock-quotes/abcl-stock-quote/">ABCL</a>) continues to build a platform dedicated to drug discovery and development. This is one of the hotter areas within biotech stocks due to the emergence of artificial intelligence. AI and machine learning are speeding the time from molecule discovery to therapeutic commercialization at rates that couldn&rsquo;t have been expected just years ago. That rapid development makes companies like ABCL particularly noteworthy.



The company&rsquo;s platform identifies antibodies existent in natural immune responses. It continues to develop that platform and is collaborating with multiple partners including Eli Lilly (NYSE:<a href="https://investorplace.com/stock-quotes/lly-stock-quote/">LLY</a>).&nbsp;



Generally speaking, demand is high for services such as those that the company provides. AbCellera Biologics delivers clinically relevant drug candidates to its partners much more quickly than was possible until very recently. In the high stakes world of pharmaceutical development which requires a long time frames, every second counts.



AbCellera Biologics stock is expected to <a href="https://stockanalysis.com/stocks/abcl/forecast/">increase in price by as much as 5X</a> and carries a &ldquo;strong buy&rdquo; rating.&nbsp;



<h2>Vir Biotechnology (VIR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/coronavirus-vaccine-300x169.jpg" alt="A bunch of glass vials of SARS-CoV-2 vaccines. Vaccine stocks"><div>Source: Shutterstock</div></div>Vir Biotechnology (NASDAQ:<a href="https://investorplace.com/stock-quotes/vir-stock-quote/">VIR</a>) continues to undertake a pivot in early 2024 while remaining highly regarded and full of potential. Shares of the stock currently trade for approximately $10 and have true <a href="https://stockanalysis.com/stocks/vir/forecast/">10x potential</a> while also maintaining a &ldquo;buy&rdquo; rating.



The company was very strong through 2022 and benefited from substantial collaboration revenues. Those revenues more than dried up in 2023, falling by more than 100% in Q3. Grant revenues more than doubled during the same time frame, but were insignificant in total value by comparison.



The company disclosed a strategy to pivot in late 2023 that will result in job losses and a new strategic focus.The firm is now focusing on multiple clinical programs related to hepatitis. It is also shutting down two of its locations resulting in a decrease in headcount of approximately 12%. That headcount reduction is expected to result in $40 million in cost savings.



Its drug Sotrovimab <a href="https://investors.vir.bio/news/news-details/2023/Vir-Biotechnology-Provides-Corporate-Update-and-Reports-Third-Quarter-2023-Financial-Results/default.aspx">has emergency use authorization</a> in 40 plus countries outside of the U.S. and has been shown to be effective in clearing the immune system of Covid-19.&nbsp;



<h2>Avidity Biosciences (RNA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/11/rna1600-300x169.png" alt="Avidity Biosciences logo on their headquarters building in San Diego, CA, USA. Avidity Biosciences Inc (RNA) is an American biotechnology company."><div>Source: JHVEPhoto / Shutterstock.com</div></div>Avidity Biosciences (NASDAQ:<a href="https://investorplace.com/stock-quotes/rna-stock-quote/">RNA</a>) continues to develop therapeutics used in the treatment of rare muscular diseases. Its stock has the potential to quadruple should its therapeutics prove efficacious in the treatment of diseases including muscular dystrophy.



The company is developing therapeutics based on the delivery of oligonucleotides that target the RNA in skeletal muscle. It is likely that investors will be able to take advantage of positive news from the company in the coming weeks.&nbsp;



The company will be presenting <a href="https://aviditybiosciences.investorroom.com/2024-02-15-Avidity-Biosciences-to-Present-New-AOC-1001-Long-term-Efficacy-and-Safety-Data-from-MARINA-OLE-TM-Trial-in-People-Living-with-Myotonic-Dystrophy-Type-1-DM1-at-2024-Muscular-Dystrophy-Association-MDA-Clinical-Scientific-Conference">updated data</a> from all three of its clinical programs in early March.



Oligonucleotides are also indicated in the treatment of cardiac conditions. Avidity Biosciences is also advancing partnered cardiology programs toward commercialization. The company plans to commence phase 3 trials of its program for adults living with myotonic dystrophy in mid 2024. Share prices rebounded sharply in late 2023 on the news of a collaboration with Bristol-Myers Squibb (NYSE:<a href="https://investorplace.com/stock-quotes/bmy-stock-quote/">BMY</a>). Avidity Biosciences remains one of the biotech stocks to watch in the treatment of rare muscular diseases.



On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> Publishing Guidelines</a>.
<div>Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/02/3-highly-rated-biotech-stocks-to-buy-for-300-gains/">3 Highly Rated Biotech Stocks to Buy for 300% Gains</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Highly Rated Biotech Stocks to Buy for 300% Gains

AbCellera: Victim Of Its Own Success

Grand View Research says the global "AI in drug discovery" market should expand at a CAGR of 30% between now, and 2030 which Morgan Stanley believes will lead to 50 novel therapies over the next decade, with annual sales in excess of $50 billion.

AI-Powered Drug Discovery Stocks Index Up 9% In February; Remains Down 8% YTD

This article is a recap of how 7 artificial intelligence stock categories did in February, and YTD, compared to each other to help you  make prudent investment decisions accordingly. 

Recap: These 7 Artificial Intelligence (AI) Stock Categories Had Returns From +2 To +15% In February

Tracking Baker Brothers Portfolio - Q4 2023 Update

AbCellera gains on antibody collaboration with Biogen

AbCellera Biologics Inc (ABCL) has risen Thursday morning, with the stock adding 2.85% in pre-market trading to 5.05. ABCL's short-term technical score of 17 indicates that the stock has traded less bullishly over the last month than 83% of stocks on the market. In the Biotechnology industry, which ranks 101 out of 146 ind

Premarket Mover: AbCellera Biologics Inc (ABCL) Up 2.85%

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This month in March is a great time to pick up shares in these best <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> to buy. I chose the companies due to their strong fundamentals and potential for significant upside. Investing in penny stocks can provide the opportunity for substantial returns, as these lower-priced shares have more room for capital appreciation compared to large-cap stocks.&nbsp;



However, penny stocks also come with increased volatility and risk, so it&rsquo;s important to thoroughly research each company.



With major indices like the S&amp;P 500 and Nasdaq trading at relatively high valuations, penny stocks may also offer a more attractive entry point. Many analysts believe the <a href="https://www.livemint.com/market/stock-market-news/nifty-50-midcap-smallcap-indices-most-sectors-overvalued-says-hdfc-securities-advocates-bottom-up-stock-picking-11708316849624.html">broader markets are overvalued</a> and due for a correction after the extended bull run. In an overvalued market, cheaper penny stocks have more room for upside potential compared to large established companies.



So with that said, here are seven of the best penny stocks to buy for investors to consider for their portfolios. Don&rsquo;t miss out on these options to add to cheap shares.



<h2>Taboola (TBLA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/shutterstock_1837963990-300x169.jpg" alt="TBLA stock: Taboola company website with logo close up"><div>Source: Postmodern Studio / Shutterstock</div></div>Taboola (NASDAQ:<a href="https://investorplace.com/stock-quotes/tbla-stock-quote/">TBLA</a>) specializes in online advertising, holding the attention of numerous hedge funds.



The company <a href="https://www.gurufocus.com/news/2357282/taboolacom-ltd-tbla-reports-strong-q4-net-income-and-record-2024-guidance">concluded 2023</a> with solid fourth-quarter earnings and is optimistic about its growth in 2024. In Q4 2023, revenue grew by 13% year-over-year to $419.8 million, and the Adjusted EBITDA was $50.1 million, exceeding their guidance.



The net income for Q4 stood at $3.7 million. Despite the yearly net loss of $82.0 million, Taboola forecasts significant growth for 2024, aiming for a revenue increase of 33% to nearly $2 billion, with Adjusted EBITDA expected to surpass $200 million.



Taboola&rsquo;s strategic focus includes leveraging its partnership with Yahoo, which is expected to <a href="https://www.investing.com/news/stock-market-news/earnings-call-taboola-anticipates-robust-growth-in-2024-with-strong-q4-results-3321862">contribute over $100 million</a> in Q1 2024. The company also announced a $100 million share buyback program



Meanwhile, Wall Street analysts maintain a &ldquo;<a href="https://www.marketbeat.com/stocks/NASDAQ/TBLA/">Buy</a>&rdquo; consensus rating for TBLA, with an average price target of $5.94, suggesting a potential upside of 37.2% from the current price.



<h2>Adaptive Biotechnologies (ADPT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/penny-stocks-300x169.png" alt="Stacks of pennies representing penny stocks. Nano-Cap Penny Stocks"><div>Source: John Brueske / Shutterstock.com</div></div>Adaptive Biotechnologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/adpt-stock-quote/">ADPT</a>) is a biotech firm that didn&rsquo;t meet third-quarter expectations, yet it remains a significant interest among hedge funds.



In Q4, <a href="https://www.wallstreetzen.com/stocks/us/nasdaq/adpt/stock-forecast">revenue decreased</a> by 17% year-over-year to $45.8 million, while the full-year revenue saw an 8% decline to $170.3 million. The company&rsquo;s MRD (Minimal Residual Disease) segment showed growth, with Q4 MRD revenue increasing by 9% to $30.8 million and full-year MRD revenue up by 18% to $102.7 million.



Looking ahead to 2024, ADPT projects its MRD business revenue to be between $130 million and $140 million, with operating expenses expected to range from $360 million to $370 million.



I like ADPT are one of those best penny stocks to buy due to the consensus on Wall Street, with the average price target set at $7.25, indicating a potential upside of 132.37% from the current share price. The forecasts range from a low of $5 to a high of $10. <a href="https://investorplace.com/industries/healthcare/biotech/">Biotech stocks</a> are always risky, but I think that ADPT has strong potential.



<h2>Grab Holdings (GRAB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/shutterstock_1922313167-300x169.png" alt="Motorcycle helmet with Grab logo on a motorcycle parked at the road side"><div>Source: Nor Sham Soyod / Shutterstock.com</div></div>Grab Holdings (NASDAQ:<a href="https://investorplace.com/stock-quotes/grab-stock-quote/">GRAB</a>) operates in ride-hailing and has shown impressive growth.



Additionally, the launch of the <a href="https://finance.yahoo.com/news/grab-holdings-limited-nasdaq-grab-173552281.html">Malaysian digital bank</a> GXBank marked a significant milestone for GRAB, achieving over 100,000 customer signups within the first two weeks. GRAB plans to further attract new users by introducing high-value offerings.



In pursuit of full-year profitability for 2024 GRAB is focusing on organic growth and investing in AI technologies. The adoption of AI has enabled GRAB to significantly reduce content generation time, from 99 hours to just 90 minutes, while improving output quality.



The company has outlined a clear path to <a href="https://finance.yahoo.com/news/grab-holdings-limited-nasdaq-grab-173552281.html">steady group adjusted EBITDA growth</a> and improved adjusted free cash flow generation. Among its capital market activities, GRAB announced plans to repay its remaining Term Loan B debt facility, expected to save approximately $50 million in annual interest expenses.



I&rsquo;ve been bullish on GRAB for a while, and these initiatives underscore why I think it could be one of those penny stocks to buy.



<h2>Opendoor Technologies (OPEN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/penny-stocks-finding-magnify-300x169.jpg" alt="A hand holding a magnifying glass over pennies. under-$1 stocks to buy"><div>Source: Shutterstock</div></div>Opendoor Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/open-stock-quote/">OPEN</a>), a real estate platform, has seen substantial gains in 2023 and is expected to achieve a free cash flow breakeven milestone by the first half of 2024.



The company <a href="https://finance.yahoo.com/news/opendoor-technologies-inc-nasdaq-open-153005779.html">increased its market share significantly</a> from Q1 to Q4 and saw a contribution margin of 8.3% from its new inventor. Adjusted operating expenses saw a nearly 30% year-over-year reduction in Q4, aside from reduced advertising spend.



For 2024, OPEN has set a revenue target between $1.05 billion and $1.1 billion for Q1, with a contribution profit expected to be between $40 million and $50 million. This outlook implies a contribution margin of 3.8% to 4.5%, with an adjusted EBITDA loss projected between $70 million and $80 million.



The company anticipates first quarter home purchases to remain flat compared to Q4 but to increase significantly year-over-year, with a continuous upward trend expected into Q2.



<h2>AbCellera Biologics (ABCL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/biotechnologyepzm1600-300x169.png" alt="OLK Stock. Modern Medical Research Laboratory: Two Scientists Wearing Face Masks use Microscope, Analyse Sample in Petri Dish, Talk. Advanced Scientific Lab for Medicine, Biotechnology. Blue Color. KZR stock. RSLS stock. Best Biotech Stocks to Buy"><div>Source: Gorodenkoff / Shutterstock.com</div></div>AbCellera Biologics (NASDAQ:<a href="https://investorplace.com/stock-quotes/abcl-stock-quote/">ABCL</a>) is a biotech firm that&rsquo;s been in the spotlight for its potential in strategic partnerships and innovations in biotech.



Analysts have projected its financial performance for 2024 with an <a href="https://www.marketscreener.com/quote/stock/ABCELLERA-BIOLOGICS-INC-116373768/">expected revenue</a> of $48.05 million and a net income forecasted to be -$187 million. Looking further ahead into 2025, revenue is anticipated to grow to $64.79 million, though the net income is expected to deepen to -$215 million.



For the most recent quarter, ABCL reported earnings that fell short of analysts&rsquo; expectations. The reported EPS was -$0.17, missing the consensus estimate by $0.03. Revenue was also down, with revenue reported at $9.18 million against analysts&rsquo; expectations of $9.58 million.



However, I think that this is short-term bad news and par the course for anyone investing in biotech stocks. Its valuation is perhaps its biggest draw card, trading at just around $4.30 at the time of writing, with multiples far below that of its peers.



<h2>Blink Charging (BLNK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/04/blnk-stock-300x169.jpg" alt="a blink charging station, BLNK stock"><div>Source: David Tonelson/Shutterstock.com</div></div>Blink Charging (NASDAQ:<a href="https://investorplace.com/stock-quotes/blnk-stock-quote/">BLNK</a>) specializes in electric vehicle charging infrastructure and has reported significant growth.&nbsp; The company announced a record-breaking revenue in the third quarter of 2023, surpassing its previous records.



In a move to <a href="https://electrek.co/2024/03/11/blink-charging-will-more-than-triple-ev-charger-production-with-a-new-factory/">boost its manufacturing capabilities</a> and embrace domestic production, BLNK has initiated the development of a new 30,000-square-foot factory in Maryland. This facility is set to more than triple the company&rsquo;s EV charger production capacity to over 50,000 units annually, a significant leap from the current capacity of 15,000 units.



The company&rsquo;s prospects have garnered attention from analysts and investors alike. Needham <a href="https://stockanalysis.com/stocks/blnk/forecast/">upgraded BLNK stock</a> from a &ldquo;Hold&rdquo; to a &ldquo;Buy&rdquo; rating, setting a price target that suggests a significant upside. The consensus among eight analysts offers a &ldquo;Buy&rdquo; recommendation, with a 12-month average price target indicating a potential increase of over 246%.



That prie target alone then makes it one of those best penny stocks for investors to buy.



<h2>Bitfarms (BITF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/12/bitf1600-300x169.png" alt="Bitcoin and crypto mining farm. Big data center. High tech server computers at work. Bitfarms (BITF) mines crypto."><div>Source: PHOTOCREO Michal Bednarek / Shutterstock.com</div></div>Bitfarms (NASDAQ:<a href="https://investorplace.com/stock-quotes/bitf-stock-quote/">BITF</a>), a Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) mining company, has experienced a substantial increase in its stock price, driven by its aggressive expansion plans and the bullish trend in Bitcoin.



In 2023, BITF <a href="https://investor.bitfarms.com/news-events/press-releases/detail/229/bitfarms-earns-300-btc-in-february-2024-provides-update-on">focused on growth</a>, laying a foundation for aggressive expansion in 2024. Their monthly Bitcoin production showed a year-over-year decrease from 5,167 BTC in 2022 to 4,928 BTC in 2023, with a noticeable drop in BTC earned from December 2023 (446 BTC) to February 2024 (300 BTC)



Looking ahead, BITF&rsquo;s strategy includes a <a href="https://investor.bitfarms.com/news-events/press-releases/detail/219/bitfarms-initiates-transformative-fleet-upgrade-that">transformative fleet upgrade</a> to support a projected 17 EH/s and 391 MW by the end of 2024. This includes acquiring additional miners to reach a target hashrate of 21 EH/s within the same timeframe.



Bitcoin miners like BITF generally show a strong correlation with the price of Bitcoin, with these stocks being sensitive to the price movements of the currency. In fact, these firms often make even greater moves, which can amplify both gains and losses for investors.



I think that BITF could be a good pick for investors who want exposure to the crypto market with a miner that&rsquo;s greatly expanding its mining capacity.



On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> InvestorPlace.com Publishing Guidelines</a>.
<div>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</div><h3>More From InvestorPlace</h3>
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