American Heritage Intl (OTC:AHII) Stock, Quote.Headers.trade-ideas

American Heritage International Inc is a United State based company engaged in manufacturing of electronic cigarette. It provides the customer with an alternative to traditional cigarettes without the negative and health issues associated with the smoking of tobacco products. It offers disposable premium electronic cigarettes including Cobalt classic, Platinum, Emerald Menthol and Red Tobacco.

AHII

SLGN

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VTAL

Merger Arbitrage Mondays – June 20, 2011

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Animal Health International Announces Stockholder Approval of Merger Agreement

AVEO

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Is EnCana Corporation (ECA) the Perfect Stock?

AMERICAN HERITAGE INTL by American Heritage International Inc.

American Heritage International Inc

Corteva's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTVA#NYSE">CTVA</a>) short percent of float has risen 4.41% since its last report. The company recently reported that it has 8.66 million shares sold short, which is 1.42% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.94 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Corteva Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725989411_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Corteva has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Corteva's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Corteva's peer group average for short interest as a percentage of float is 3.16%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

CTVA

(CTVA) - Analyzing Corteva's Short Interest

Needham analyst Mike Cikos reiterates Cognyte Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGNT#NASDAQ">CGNT</a>) with a Hold.

Reiteration

Analyst Ratings

CGNT

Needham Reiterates Hold on Cognyte Software

Under Armour, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uaa#NYSE">UAA</a>) has revised its fiscal 2025 restructuring strategy to include additional steps aimed at enhancing supply-chain operations and business efficiency. Originally, the company estimated pre-tax restructuring expenses to be in the range of $70-$90 million.&nbsp;After reevaluation, pre-tax restructuring expenses are anticipated to be in the range of $140-$160 million.
A major driver of this adjustment is the decision to phase out one of its primary distribution centers in Rialto, CA, by March 2026. This restructuring reflects Under Armour&#39;s broader goal of streamlining operations and refining its supply chain. While the updated plan will increase short-term costs, the company aims to emerge more agile and financially stronger in the long run.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/69/77143.jpg?v=261741690" />
Image Source: Zacks Investment Research
<h2>Financial Impact of Restructuring on Under Armour</h2>
The financial impact of Under Armour&#39;s restructuring plan is expected to be significant, involving both cash-related and non-cash expenses. The company projects cash-related charges of up to $75 million, with $30 million allocated for severance and employee benefits and an additional $45 million for various transformation initiatives aimed at improving operational efficiency.&nbsp;
In addition, non-cash charges are anticipated to be almost $85 million. This includes $7 million in severance-related costs and $78 million in impairments tied to assets such as facilities, software and other resources. By the end of the first quarter of fiscal 2025, Under Armour had already incurred $34 million in restructuring costs, consisting of $19 million in cash-related charges and $15 million in non-cash expenses. The company estimates that approximately two-thirds of the total restructuring costs will be recognized by the end of fiscal 2025.
<h2>UAA&#39;s Revised Financial Projections</h2>
As a result of the expanded restructuring efforts, Under Armour has updated its fiscal 2025 financial outlook. The company now forecasts operating loss to be in the range of $220-$240 million, an increase from the previously expected range of $194-$214 million. However, excluding restructuring and litigation-related charges, adjusted operating income is projected to be between $140 million and $160 million.
Additionally, the company has revised its expectations for loss per share, which is now estimated to be between 58 cents and 61 cents, up from the earlier guided range&nbsp; of 53 - 56 cents. On an adjusted basis, excluding the impact of restructuring expenses, Under Armour anticipates earnings per share to be in the range of 19 - 22 cents. These updated projections reflect the financial implications of the restructuring plan.
<h2>Conclusion</h2>
Under Armour&#39;s updated fiscal 2025 restructuring plan marks a significant shift in its efforts to streamline operations and cut costs. The decision to exit a key distribution facility, alongside other transformational initiatives, has led to an increase in anticipated restructuring expenses. Despite the immediate financial impact, including higher projected losses, the company aims to create a more agile and efficient business in the long term.
While the expanded restructuring will result in increased short-term costs, the adjusted earnings outlook, excluding these charges, remains positive. Under Armour aims to be better positioned for sustained profitability and growth in the years to come.
This Zacks Rank #3 (Hold) company&#39;s shares have risen 9.4% in the past three months against the industry&#39;s 10.9% decline.
<h2>Key Picks</h2>
Some better-ranked stocks are Boot Barn Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/boot#NYSE">BOOT</a>), Abercrombie &amp; Fitch Co.&nbsp;and Steven Madden, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/shoo#NASDAQ">SHOO</a>).
Boot Barn operates as a lifestyle retail chain devoted to western and work-related footwear, apparel and accessories. It currently sports a Zacks Rank #1 (Strong Buy).
The Zacks Consensus Estimate for Boot Barn&#39;s fiscal 2025 earnings and sales indicates growth of 8.9% and 10.7%, respectively, from the fiscal 2023 figures. BOOT has a trailing four-quarter average earnings surprise of 7.1%.
Abercrombie is a specialty retailer of premium, high-quality casual apparel. It sports a Zacks Rank of 1 at present. ANF delivered a 16.8% earnings surprise in the last reported quarter.
The consensus estimate for Abercrombie&#39;s fiscal 2025 earnings and sales indicates growth of 61% and 12.6%, respectively, from the fiscal 2024 levels. ANF has a trailing four-quarter average earnings surprise of 28%.
Steven Madden designs, sources, markets and sells fashion-forward name-brand and private-label footwear. It currently has a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Steven Madden&#39;s 2024 earnings and sales indicates growth of 6.9% and 12.6%, respectively, from the year-ago actuals. SHOO has a trailing four-quarter average earnings surprise of 9.5%.
<a href="https://www.zacks.com/stock/news/2333875/under-armour-s-restructuring-to-improve-supply-chain-long-term-growth?cid=CS-BENZ-FT-analyst_blog|rank_focused-2333875">To read this article on Zacks.com click here.</a>

Earnings

Mid Cap

Retail Sales

Markets

BOOT

SHOO

Under Armour's Restructuring to Improve Supply Chain, Long-Term Growth

- Barclays 22nd Annual Global Financial Services Conference
&nbsp;
&nbsp;

Bank Of America CEO Says Middle Market Investment Banking Growing At Double Digit Pace; Says Loan Demand Is Okay, Not Falling

BofA Securities analyst Justin Post maintained a Buy rating on Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a price target of $210.
The re-rating followed Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) and Amazon Web Services&#8217; <a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/40781943/oracle-stock-climbs-on-strong-q1-results-partnerships-with-google-cloud-aws" rel="noreferrer noopener">new partnership</a>, which connects Oracle&#8217;s Autonomous Database &amp; Exadata Database and AWS applications.
AWS customers would benefit from more seamless access to their data, simplified database administration, billing, and unified customer support, Post noted.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40792054/amazon-targets-walmarts-grocery-market-with-expanded-prime-discounts" rel="noreferrer noopener">Amazon Targets Walmart&#8217;s Grocery Market with Expanded Prime Discounts</a>
Post said that Oracle and Amazon were competitive with database customers. Hence, the new partnership suggests that cloud providers have a sizable opportunity to unlock demand for infrastructure and applications using data housed within Oracle&#8217;s databases.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/10113242/newplot-1-4.png" alt="" class="wp-image-540264" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/10113242/newplot-1-4.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/10113242/newplot-1-4-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
According to Oracle, partnerships with leading Cloud providers are already driving growth. AWS CEO Matt Garman also spoke at an investor conference, outlining optimism for artificial intelligence demand and AWS&#8217; differentiated infrastructure.
Despite concerns about AI-related disruption to AWS&#8217; strong Cloud industry position, Post said the CEO commentary suggests optimism on AI-related demand and differentiated AWS AI infrastructure to drive client wins.
Also, Amazon is walking a fine line between promoting its cost-efficient infrastructure and featuring Nvidia Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) strong GPU capabilities. Still, he flagged customer choice as a differentiated and compelling offering.
The price target reflects Post&#8217;s Sum Of The Parts&nbsp;(SOTP) analysis, which values the 1P retail business at 1.2 times 2025E Revenue (including subscription and Prime membership fees), the 3P retail business at 3.0 times 2025E Revenue, AWS at 8.0 times 2025 Sales, and the advertising business at 5.0 times 2025 Sales.
For 2025E, Post&#8217;s 8.0 times AWS multiple is relatively below the analyst&#8217;s SaaS comps at 8.5 times, his 1.2 times GMV multiple is a discount to his retail comps at 1.3 times, and his 5.0 times advertising multiple is a discount to his digital advertising comps at 5.2 times, which are warranted given growth rates in excess of peers.
<h2 class="wp-block-heading">Oracle Stock Prediction For 2024</h2>
Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.
Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at Oracle, an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For Oracle, the 200-day moving average sits at $123.04, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, which is below the current price of $156.09. For more on charts and trend lines, <a href="https://pro.benzinga.com/">see a description here.</a>
Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.
Price Action: AMZN stock is up 2.54% at $179.86 at the last check on Tuesday.
Photo via Company

Price Target

Tech

AMZN

NVDA

ORCL

Amazon and Oracle Partnership Unlocks Major Cloud Growth Opportunity, Analyst Suggests

News Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWS#NASDAQ">NWS</a>) disclosed that its largest shareholder, Starboard Value LP, believes dual-class share structures are not in the best interests of shareholders and do not reflect <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40771870/starboard-value-issues-letter-to-news-corp-shareholders-regarding-a-proposal-to-eliminate-the-comp" rel="noreferrer noopener">best-in-class corporate governance practices</a>.
Starboard stated that extending super-voting rights to a founder&#8217;s heirs is unjustifiable. News Corp&#8217;s dual-class share structure, which transfers voting power from a founder to their children, exemplifies its worst aspects.
The Murdoch siblings&#8217; differing views could hinder strategic direction, and it&#8217;s unclear why their perspectives should outweigh those of other shareholders.
They further added, &#8220;This is clearly not the appropriate governance structure for a public company, and we believe it has exacerbated News Corp&#8217;s valuation discount relative to its inherent value.&#8221;
News Corp confirmed a stockholder had submitted a non-binding proposal for the 2024 Annual Meeting to eliminate the company&#8217;s dual-class capital <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40780616/news-corp-responds-to-non-binding-stockholder-proposal" rel="noreferrer noopener">structure through a recapitalization plan</a>.
However, the Board said that &#8220;the Company&#8217;s dual-class capital structure promotes stability and has facilitated the successful implementation of News Corp&#8217;s transformational strategy and long-term outperformance for all News Corp stockholders.&#8221;
&#8220;The Company has thrived under the current structure and guidance of the Board and senior leadership despite major changes in consumer behavior amidst the digital revolution of the last decade.&#8221;
Price Action: NWS shares are down 0.69% at $27.45 at the last check Tuesday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com//node/40798749" target="_blank" rel="noreferrer noopener">Brookfield Plans To Invest Up To $1.1B in eFuels: Details</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Large Cap

Management

Starboard Says Dual-Class Structure Hurts News Corp's Valuation, Calls For Elimination

<a href="https://x.com/PalantirTech/status/1833555490812383390" title="https://x.com/PalantirTech/status/1833555490812383390">https://x.com/PalantirTech/status/1833555490812383390</a>

PLTR

Palantir Post On X (With Video), "It can't be contained. Coming soon."

Truist Securities initiated coverage on Protagonist Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTGX#NASDAQ">PTGX</a>), citing its first-in-class lead asset with encouraging Phase 2 data in a rare form of blood cancer and a <a target="_blank" href="https://www.benzinga.com/quote/ptgx" rel="noreferrer noopener">multi-billion dollar opportunity</a>.
Protagonist Therapeutics&#8217; lead assets, rusfertide and JNJ-2113, have shown promising clinical results across various trials, leading to partnerships with Takeda Pharmaceutical Co Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAK#NYSE">TAK</a>) and Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>).
Truist models peak end user unadjusted sales of $2.8 billion vs. the consensus of $2 billion to rusfertide, which are reflected in ~$660 million adjusted peak revenues to Protagonist Therapeutics (profit-share in US + royalties ex-US).
The analyst has initiated with a Buy rating and a <a target="_blank" href="https://www.benzinga.com/quote/PTGX/analyst-ratings" rel="noreferrer noopener">price target of $60</a>. Talking about JNJ-2113, an oral IL-23, is a well-established pathway with four FDA-approved inhibitors for various conditions.
The analyst emphasizes that JNJ-2113 stands out as the only orally administered IL-23 inhibitor, offering a significant advantage over others in the field with improved dosing and administration.
Phase 2 trial data for psoriasis demonstrate improved efficacy compared to other oral treatments and IL-23 inhibitors like Johnson &amp; Johnson&#8217;s Tremfya and Stelara, though cross-trial comparisons have limitations.
Truist highlights a significant unmet need in Inflammation &amp; Immunology (I&amp;I), particularly for an oral IL-23 treatment that could expand market opportunities and potentially lead to switching from other oral therapies with different mechanisms of action. Truist also sees potential for JNJ-2113 to be effective in additional indications.
The analyst models around $4 billion in peak unadjusted end-user sales for JNJ-2113 in psoriasis, reflected as ~$300 million in peak adjusted royalties to the company vs. the consensus of $320 million.
The analyst also sees a potential peak opportunity of $2.7 billion in ulcerative colitis but awaits data from the trial expected in the fourth quarter of 2024 before assigning any value.
Price Action: PTGX stock is up 0.83% at $44.96 at the last check on Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/09/40793946/astrazeneca-ceo-pascal-soriot-updates-on-chinese-compliance-probe-and-lung-cancer-drug-trial-resu" target="_blank" rel="noreferrer noopener">AstraZeneca CEO Pascal Soriot Updates On Chinese Compliance Probe And Lung Cancer Drug Trial Results</a>.</li>
</ul>

Analyst Color

Biotech

Health Care

Initiation

General

PTGX

Protagonist Therapeutics' Two Investigational Candidates Target Over $10B Market, Bullish Analyst Opines

Core Scientific (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>) CEO Adam Sullivan has shared plans to significantly expand the company&#8217;s <a href="https://www.benzinga.com/news/24/07/39721715/ai-data-centers-evs-to-lead-new-surge-in-energy-demand">AI data center</a> services, potentially boosting its valuation to $25-$30 billion.
What Happened: In a discussion with analysts from Bernstein, Sullivan emphasized the exponential growth potential through AI data center contracts, <a href="https://www.theblock.co/post/315538/core-scientific-ai-opportunity-bernstein?utm_source=rss&amp;utm_medium=rss">The Block</a> on Tuesday reported.
The company aims to secure deals ranging from 500MW to 1GW over the next few years.
Sullivan, who joined Core Scientific in April 2023, highlighted the firm&#8217;s successful exit from Chapter 11 bankruptcy in January. The company has since signed a 12-year contract with AI Hyperscaler CoreWeave, worth up to $3.5 billion in revenue.
Core Scientific has already inked three contracts with CoreWeave, converting existing Bitcoin mining facilities into GPU-ready data centers. These agreements include 70MW and 112MW deals, adding to an initial 200MW contract.
Sullivan noted that no other Bitcoin miners are currently competing in the AI services space. He stressed the importance of delivering infrastructure faster than competitors like Digital Reality, Equinix, Switch, and Cyrus One.
Bernstein analyst Gautam Chhugani pointed out the competitive nature of Bitcoin mining. Sullivan responded by focusing on maximizing economic efficiency and maintaining well-performing older machines to generate strong cash flows.
Bernstein currently rates Core Scientific as &#8220;outperform,&#8221; with a price target of $17, significantly above its $10 market close on Monday.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40791711/ftx-moves-to-settle-600m-robinhood-shares-dispute-with-14m-payment-amid-bankruptcy-proceed">FTX Moves To Settle $600M Robinhood Shares Dispute With $14M Payment Amid Bankruptcy Proceedings</a>
Why It Matters: The strategic pivot by Core Scientific to AI data centers is part of a broader trend among Bitcoin miners. 
According to a <a href="https://drupal-cloudfront.benzinga.com/markets/cryptocurrency/24/08/40494337/bitcoin-miners-core-scientific-iris-energy-merge-mining-with-ai-data-centers-bernstein">recent report</a> from Bernstein, miners are increasingly adopting a hybrid strategy combining AI data centers with cryptocurrency mining. This &#8220;mullet strategy&#8221; allows companies to leverage their existing infrastructure and power capacity to meet the growing demand for AI compute power.
Moreover, the shift comes at a time when Bitcoin mining revenues have been under pressure. 
In August, revenues from Bitcoin mining dropped to an <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40679694/bitcoin-mining-revenue-tanks-to-an-11-month-low-in-august-industry-bellwether-marathon-dig">11-month low</a>. Miner earnings fell to just over $827 million, marking a 10% decline from July and a 57% drop since the peak in March. 
This downturn has forced miners to explore alternative revenue streams, making the AI data center market an attractive option.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40780757/donald-trump-widens-election-odds-lead-in-the-rust-belt-states-ahead-of-crucial-debate-wit">Donald Trump Widens Election Odds Lead In The Rust Belt States Ahead Of Crucial Debate With VP Kamala Harris</a></li>
</ul>
Image: Shutterstock

Core Scientific, Inc. - Class A Common Stock

CORZ

Core Scientific Aims For $25-$30 Billion Valuation With AI Data Center Services: Bernstein

Deep-pocketed investors have adopted a bearish approach towards Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in OXY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 22 extraordinary options activities for Occidental Petroleum. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 31% leaning bullish and 59% bearish. Among these notable options, 11 are puts, totaling $615,605, and 11 are calls, amounting to $478,964.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $60.0 for Occidental Petroleum over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Occidental Petroleum's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Occidental Petroleum's whale trades within a strike price range from $30.0 to $60.0 in the last 30 days. 
<h3>Occidental Petroleum Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725988548_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$11.15</td>
<td>$10.85</td>
<td>$11.15</td>
<td>$60.00</td>
<td>$111.5K</td>
<td>6.4K</td>
<td style="text-align: right;">101</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$10.95</td>
<td>$10.85</td>
<td>$10.93</td>
<td>$60.00</td>
<td>$109.3K</td>
<td>6.4K</td>
<td style="text-align: right;">201</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$2.38</td>
<td>$2.33</td>
<td>$2.36</td>
<td>$50.00</td>
<td>$80.7K</td>
<td>3.9K</td>
<td style="text-align: right;">401</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/11/24</td>
<td>$7.5</td>
<td>$7.2</td>
<td>$7.2</td>
<td>$45.00</td>
<td>$72.0K</td>
<td>1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$6.15</td>
<td>$6.0</td>
<td>$6.0</td>
<td>$60.00</td>
<td>$60.0K</td>
<td>668</td>
<td style="text-align: right;">105</td>
</tr>
</tbody>
</table>

<h3>About Occidental Petroleum</h3>
Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.
In light of the recent options history for Occidental Petroleum, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of Occidental Petroleum</h3>
<ul>
<li>Currently trading with a volume of 7,555,937, the OXY's price is down by -1.74%, now at $51.05. </li>
<li>RSI readings suggest the stock is currently may be oversold.</li>
<li>Anticipated earnings release is in 56 days.</li>
</ul>
<h3>What Analysts Are Saying About Occidental Petroleum</h3>
3 market experts have recently issued ratings for this stock, with a consensus target price of $71.0.
<ul>
<li>An analyst from Susquehanna persists with their Positive rating on Occidental Petroleum, maintaining a target price of $78. </li>
<li>Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for Occidental Petroleum, targeting a price of $65. </li>
<li>An analyst from UBS has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $70. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Occidental Petroleum, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Occidental Petroleum Options Trading: A Deep Dive into Market Sentiment

Deep-pocketed investors have adopted a bearish approach towards Shopify (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SHOP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Shopify. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 4 are puts, totaling $651,830, and 5 are calls, amounting to $399,825.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $65.0 to $80.0 for Shopify over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Shopify's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Shopify's whale activity within a strike price range from $65.0 to $80.0 in the last 30 days. 
<h3>Shopify Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725988543_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SHOP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$14.9</td>
<td>$14.5</td>
<td>$14.9</td>
<td>$70.00</td>
<td>$298.0K</td>
<td>3.2K</td>
<td style="text-align: right;">200</td>
</tr>
<tr>
<td>SHOP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$11.75</td>
<td>$11.7</td>
<td>$11.7</td>
<td>$65.00</td>
<td>$233.6K</td>
<td>3.4K</td>
<td style="text-align: right;">200</td>
</tr>
<tr>
<td>SHOP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$6.3</td>
<td>$6.25</td>
<td>$6.25</td>
<td>$70.00</td>
<td>$156.2K</td>
<td>4.8K</td>
<td style="text-align: right;">770</td>
</tr>
<tr>
<td>SHOP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$17.7</td>
<td>$17.55</td>
<td>$17.7</td>
<td>$80.00</td>
<td>$88.5K</td>
<td>3.0K</td>
<td style="text-align: right;">50</td>
</tr>
<tr>
<td>SHOP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/25/24</td>
<td>$5.45</td>
<td>$5.35</td>
<td>$5.35</td>
<td>$65.00</td>
<td>$79.7K</td>
<td>3</td>
<td style="text-align: right;">151</td>
</tr>
</tbody>
</table>

<h3>About Shopify</h3>
Shopify offers an e-commerce platform primarily to small and medium-size businesses. The firm has two segments. The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. The merchant solutions segment offers add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.
In light of the recent options history for Shopify, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Shopify's Current Market Status</h3>
<ul>
<li>With a volume of 1,875,244, the price of SHOP is down -1.17% at $67.33. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 51 days.</li>
</ul>
<h3>What The Experts Say On Shopify</h3>
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $73.25.
<ul>
<li>An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $70. </li>
<li>An analyst from JP Morgan has decided to maintain their Overweight rating on Shopify, which currently sits at a price target of $76. </li>
<li>An analyst from Loop Capital persists with their Hold rating on Shopify, maintaining a target price of $80. </li>
<li>Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Shopify, targeting a price of $67. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Shopify, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

SHOP

Unpacking the Latest Options Trading Trends in Shopify

Investors with a lot of money to spend have taken a bearish stance on Salesforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CRM, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 8 uncommon options trades for Salesforce.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $704,325, and 4 are calls, for a total amount of $161,240.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $200.0 and $290.0 for Salesforce, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Salesforce's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Salesforce's whale activity within a strike price range from $200.0 to $290.0 in the last 30 days. 
<h3>Salesforce Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725988538_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CRM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$22.95</td>
<td>$22.6</td>
<td>$22.9</td>
<td>$250.00</td>
<td>$320.6K</td>
<td>693</td>
<td style="text-align: right;">140</td>
</tr>
<tr>
<td>CRM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$17.75</td>
<td>$17.55</td>
<td>$17.75</td>
<td>$250.00</td>
<td>$177.5K</td>
<td>1.3K</td>
<td style="text-align: right;">101</td>
</tr>
<tr>
<td>CRM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/18/26</td>
<td>$18.55</td>
<td>$18.05</td>
<td>$18.05</td>
<td>$200.00</td>
<td>$110.1K</td>
<td>580</td>
<td style="text-align: right;">20</td>
</tr>
<tr>
<td>CRM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/15/25</td>
<td>$53.4</td>
<td>$53.35</td>
<td>$53.4</td>
<td>$290.00</td>
<td>$96.1K</td>
<td>19</td>
<td style="text-align: right;">18</td>
</tr>
<tr>
<td>CRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$14.15</td>
<td>$13.8</td>
<td>$14.15</td>
<td>$290.00</td>
<td>$49.5K</td>
<td>802</td>
<td style="text-align: right;">35</td>
</tr>
</tbody>
</table>

<h3>About Salesforce</h3>
Salesforce provides enterprise cloud computing solutions. The company offers customer relationship management technology that brings companies and customers together. Its Customer 360 platform helps the group to deliver a single source of truth, connecting customer data across systems, apps, and devices to help companies sell, service, market, and conduct commerce. It also offers Service Cloud for customer support, Marketing Cloud for digital marketing campaigns, Commerce Cloud as an e-commerce engine, the Salesforce Platform, which allows enterprises to build applications, and other solutions, such as MuleSoft for data integration.
Following our analysis of the options activities associated with Salesforce, we pivot to a closer look at the company's own performance.
<h3>Current Position of Salesforce</h3>
<ul>
<li>With a volume of 1,203,239, the price of CRM is down -0.47% at $244.6. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 78 days.</li>
</ul>
<h3>Professional Analyst Ratings for Salesforce</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $290.8.
<ul>
<li>Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on Salesforce with a target price of $305. </li>
<li>An analyst from Bernstein persists with their Outperform rating on Salesforce, maintaining a target price of $236. </li>
<li>An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $300. </li>
<li>In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $345. </li>
<li>An analyst from Piper Sandler persists with their Neutral rating on Salesforce, maintaining a target price of $268. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Salesforce options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Smart Money Is Betting Big In CRM Options

WIIM

SMMT

Summit Therapeutics shares are trading higher. Over the weekend, the company announced the presentation of data on Ivonescimab monotherapy.

<a href="https://www.globenewswire.com/news-release/2024/09/10/2943994/0/en/CORRECTION-Altimmune-Presents-Results-of-a-Phase-2-MRI-Based-Body-Composition-Sub-Study-at-60th-Annual-Meeting-of-the-European-Association-for-the-Study-of-Diabetes.html" title="https://www.globenewswire.com/news-release/2024/09/10/2943994/0/en/CORRECTION-Altimmune-Presents-Results-of-a-Phase-2-MRI-Based-Body-Composition-Sub-Study-at-60th-Annual-Meeting-of-the-European-Association-for-the-Study-of-Diabetes.html">https://www.globenewswire.com/news-release/2024/09/10/2943994/0/en/CORRECTION-Altimmune-Presents-Results-of-a-Phase-2-MRI-Based-Body-Composition-Sub-Study-at-60th-Annual-Meeting-of-the-European-Association-for-the-Study-of-Diabetes.html</a>

Altimmune Corrects Previous Release; Says Reduction Of Visceral Adipose Tissue (VAT) At Week 48 Adjusted To 28.3% From 25.6%, And Subcutaneous Adipose Tissue Reduction Revised To 19.5% From 20.1%

Nvidia Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) jittery investors await an update on its Blackwell chip rollout ahead of the Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) conference in San Francisco, where Nvidia chief Jensen Huang will speak with Goldman chief speak with&nbsp;David Solomon, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-09-10/nvidia-s-blackwell-chip-delay-is-center-stage-amid-stock-slump?srnd=phx-technology&amp;sref=TBDibEcD" rel="noreferrer noopener">reports</a>.
The stock took a 15% hit since it released <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40613050/nvidia-q2-earnings-guidance-top-street-view-as-ai-fuels-record-data-center-revenue-gross-margin-fal" rel="noreferrer noopener">its quarterly print</a> and disclosed Blackwell chip&#8217;s launch remains impaired by engineering snags.
CEO Jensen Huang&#8217;s assurances also failed to contain the meltdown. However, Nvidia expects &#8220;several billion dollars&#8221; of revenue from Blackwell in its fiscal fourth quarter.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/10104052/newplot-7.png" alt="" class="wp-image-540142" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/10104052/newplot-7.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/10104052/newplot-7-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Bloomberg reports that Zacks Investment Management client portfolio manager Brian Mulberry and Bank of America analysts flagged the delay as a potent concern in the absence of other positive catalysts for the stock. Mulberry expects Blackwell&#8217;s timely execution to contain the stock volatility.
Mai Capital Management portfolio manager Chris Grisanti, in <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40787302/nvidia-shares-riding-on-huge-ai-tailwind-says-portfolio-strategist-why-expert-says-" rel="noreferrer noopener">a CNBC interview</a>, snubbed the selloff backed by the ambitious artificial intelligence ambitions of cash-rich Big Tech giants like Microsoft&nbsp;Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and&nbsp;Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Amazon Web Services.
<a target="_blank" href="https://www.benzinga.com/news/24/09/40790997/taiwan-semiconductors-strong-august-sales-hint-at-big-gains-ahead-ai-and-iphone-demand-fuel-optimism" rel="noreferrer noopener">Meanwhile, Nvidia&#8217;s key</a> supplier, Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), recorded 33% topline growth in August 2024, signaling optimism over the smartphone market recovery and continued demand for&nbsp;Nvidia&#8217;s&nbsp;artificial intelligence chips.
Despite the selloff, Nvidia stock is up over 137% in the last 12 months. Investors can gain exposure to the stock through iShares Russell 1000 Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWF#NYSE">IWF</a>) and iShares S&amp;P 500 Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVW#NYSE">IVW</a>).
Price Action: NVDA stock is down 0.37% at $106.08 at the last check on Tuesday.
Photo via Shutterstock

Media

MSFT

Nvidia Faces Investor Scrutiny Over Blackwell Chip Delays, Big Revenue Expected: Report

BYON

Beyond shares are trading higher after the company announced it launched a global licensing program starting with Bed Bath & Beyond.

- Barclays 22nd Annual Global Financial Services Conference

Bank Of America CEO Brian Moynihan Says Credit Quality Is Fine; Says Seeing Stability In Loan Balances For Small Businesses

Janus International shares are trading lower. Jefferies lowered its price target on the stock from $15 to $12.

Ukraine hit Moscow on Tuesday in its <a href="https://www.benzinga.com/government/24/08/40590138/ukrainian-pilots-begin-using-f-16s-against-russia">biggest drone assault</a> since the war began in late February 2022, killing at least one person and destroying homes across the capital region. It also caused about 50 flights to be rerouted from airports around the city.
Russia said it destroyed at least 20 Ukrainian attack drones hovering over the Moscow region and 124 other drones over eight other regions, Reuters reported.
Kyiv said Russia had attacked it overnight with 46 drones, 38 of which were destroyed.
The drone attacks on Russia damaged high-rise apartment buildings in the Ramenskoye district of Moscow, causing apartments to become ablaze, residents told Reuters.
A 46-year-old woman was killed and three people were wounded in Ramenskoye, Moscow regional governor Andrei Vorobyov said.
More than 70 drones were also taken out over Russia&#8217;s Bryansk region and dozens more over other regions, Russia&#8217;s defense ministry said. 
Read Also: <a href="https://www.benzinga.com/news/global/24/08/40561938/russia-launches-one-of-the-heaviest-strikes-on-ukraine-in-over-30-months-of-war-zelensky">Russia Launches &#8216;One Of The Heaviest Strikes&#8217; On Ukraine In Over 30 Months Of War: Zelensky</a>
As Russia&nbsp;moves farther into in eastern Ukraine, Kyiv has carried out attacks across the border into Russia&#8217;s western Kursk region that began Aug. 6 and by implementing drone attacks over Russia.
Moscow and Kyiv have both tried to buy and develop new drones, finding new ways to use them or destroy them with everything from shotguns to advanced electronic jamming systems.
Russian President Vladimir Putin called Ukrainian drone attacks that target civilian infrastructure such as nuclear power plants &#8220;terrorism&#8221; and has vowed a response.
Price Action: Defense stocks saw gains and losses into Tuesday&#8217;s mid-day trading.
<ul>
<li>RTX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) slipped 0.78% to $120.21</li>
<li>General Dynamics Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) gained 0.17% to $302.06</li>
<li>Northrop Grumman (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) declined 0.49% to $521.63</li>
</ul>
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<li><a href="https://www.benzinga.com/news/24/09/40792440/antony-blinken-lands-in-uk-to-discuss-ukraine-aid-amid-kyivs-drone-attack-on-russia">Antony Blinken Lands In UK To Discuss Ukraine Aid Amid Kyiv&#8217;s Drone Attack On Russia</a></li>
</ul>
Photo: Russia, Ukraine photo by PalSand on Shutterstock

Global

Ukraine Attacks Moscow In Its Largest Drone Offensive Since War Began

Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) shares are trading lower on Tuesday after the company&#8217;s CFO reportedly noted intensifying <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">credit challenges among borrowers at a conference.</a>
The firm&#8217;s CFO, Russell Hutchinson, revealed that the company&#8217;s credit troubles have deepened this quarter, with borrowers grappling more than ever with soaring inflation and living costs, reported Reuters.
Delinquencies in the company&#8217;s retail auto segment spiked by around 20 basis points in July and August versus initial projections, Hutchinson reported to investors at a New York financial conference.
&#8220;Our borrower is struggling with high inflation and cost of living, and now more recently, a weakening employment picture,&#8221; Hutchinson said.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40794070/exclusive-lazard-small-cap-expert-predicts-30-50-russell-2000-rally-on-the-back-of-" rel="noreferrer noopener">EXCLUSIVE: Lazard Small-Cap Expert Predicts 30-50% Russell 2000 Rally On The Back Of Lower Interest Rates</a>
Net charge-offs, representing debts deemed unlikely to be recovered, increased by approximately ten basis points in Ally&#8217;s retail auto sector during the same period, exceeding initial expectations, Reuters added.
Shares of bank stocks are trading lower after Fed Vice Chair for Supervision Barr unveiled Basel and GSIB surcharge re-proposals.
Last week&#8217;s jobs report missed expectations, casting a shadow over anticipated Federal Reserve rate cuts later this month, <a target="_blank" href="https://www.bnnbloomberg.ca/business/2024/09/10/ally-drops-after-cfo-flags-consumer-stress-underperformance/" rel="noreferrer noopener">reported</a> BNN Bloomberg. Based in Detroit, Ally is primarily recognized for its auto lending but also provides credit cards, checking and savings accounts, and home loans.
Hutchinson stated that the firm will prioritize capital and expense management going forward, but it is not revising its guidance at this moment, BNN Bloomberg report added.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, ALLY stock has lost over 19% in the past month. Investors can gain exposure to the stock via&nbsp;First Trust Financials AlphaDEX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXO#NYSE">FXO</a>) and&nbsp;Vanguard S&amp;P Mid-Cap 400 Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVOV#NYSE">IVOV</a>).
Price Action: ALLY shares are trading lower by 18.7% to $32.26 at last check Tuesday.
Photo: JHVEPhoto/Shutterstock.com
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<li><a href="https://www.benzinga.com/markets/cannabis/24/09/40731052/are-banks-ready-to-serve-the-cannabis-industry-what-one-expert-says-about-the-future" target="_blank" rel="noreferrer noopener">Are Banks Ready To Serve The Cannabis Industry? What One Expert Says About The Future</a></li>
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