American Heritage Intl Stock (OTC:AHII), 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

TOMO

VTAL

Merger Arbitrage Mondays – June 20, 2011

News

Animal Health International Announces Stockholder Approval of Merger Agreement

AVEO

EXPE

GNET

MMYT

SPWRA

Is EnCana Corporation (ECA) the Perfect Stock?

AMERICAN HERITAGE INTL by American Heritage International Inc.

American Heritage International Inc

Wells Fargo analyst Elyse Greenspan maintains Globe Life (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GL#NYSE">GL</a>) with a Overweight and lowers the price target from $132 to $108.

Price Target

Analyst Ratings

Wells Fargo Maintains Overweight on Globe Life, Lowers Price Target to $108

Keefe, Bruyette &amp; Woods analyst Kelly Motta reiterates Hanmi Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAFC#NASDAQ">HAFC</a>) with a Market Perform and lowers the price target from $18.5 to $18.

Reiteration

HAFC

Keefe, Bruyette & Woods Reiterates Market Perform on Hanmi Financial, Lowers Price Target to $18

Novocure (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVCR#NASDAQ">NVCR</a>) today announced the results of the METIS phase 3 clinical trial in brain metastases from non-small cell lung cancer (NSCLC) will be presented at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago, to be held from May 31 to June 4.
METIS was a randomized phase 3 clinical trial of stereotactic radiosurgery with or without Tumor Treating Fields (TTFields) therapy for patients with 1-10 brain metastases from NSCLC. In March, <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.novocure.com%2Fmetis-phase-3-clinical-trial-met-primary-endpoint-demonstrating-a-statistically-significant-extension-in-time-to-intracranial-progression-for-patients-with-brain-metastases-from-non-small-cell-lung-c%2F&amp;esheet=53950834&amp;newsitemid=20240424461661&amp;lan=en-US&amp;anchor=Novocure+announced&amp;index=1&amp;md5=100ed40c07fdba32842018880ba6f0c2">Novocure announced</a> METIS met its primary endpoint, demonstrating a statistically significant improvement in time to intracranial progression for adult patients with Tumor Treating Fields (TTFields) therapy and supportive care compared to supportive care alone.
"We are honored to present the results of the METIS clinical trial as a late-breaking abstract this year at ASCO, the largest global oncology conference," said Asaf Danziger, Novocure's Chief Executive Officer. "Patients with brain metastases from non-small cell lung cancer need more treatment options. The METIS trial demonstrated that TTFields Therapy delayed intracranial progression while preserving neurological function, which is critical for these underserved patients. We look forward to robust discussion around the positive results of the METIS clinical trial, as well as other TTFields therapy program updates at ASCO 2024."
The METIS data will be presented on June 3 as a late-breaking abstract during ASCO's Central Nervous System Tumors session from 8 a.m. to 10 a.m. CDT. Lead author Minesh Mehta, MD, Chief of Radiation Oncology and Deputy Director at Miami Cancer Institute, part of Baptist Health South Florida, will give the presentation.
The oral presentation of the METIS clinical trial data is one of four abstracts on TTFields therapy to be included at the 2024 ASCO Annual Meeting.
Abstract titles from Novocure-sponsored and partner programs include:
<ul>
<li>Results from METIS (EF-25), an International, Multicenter Phase III Randomized Study Evaluating the Efficacy and Safety of Tumor Treating Fields (TTFields) Therapy in NSCLC Patients with Brain Metastases. Abstract 2008. 10:24 a.m. CDT on June 3. &nbsp;</li>
<li>Tumor Treating Fields (TTFields) therapy in patients with glioblastoma: Long-term survival results from TTFields in Germany in routine clinical care (TIGER) study. Abstract 2036. 9 a.m. CDT on June 1. &nbsp;</li>
<li>LUNAR-2: Pivotal, Randomized, Open-Label Study of Tumor Treating Fields (TTFields, 150 kHz) Concomitant with Pembrolizumab and Platinum Based Chemotherapy for the Treatment of Metastatic Non-Small Cell Lung Cancer. Abstract TPS8665. 1:30 p.m. CDT on June 3. 
<ul>
<li>Deep Learning Convolutional Neural Networks Reliably Monitor and Accurately Identifies Predictors of Response to Novo-TTFields. Publication Only.</li>
</ul>
</li>
</ul>

Biotech

General

NVCR

Results Of Novocure's METIS Phase 3 Clinical Trial For Patients With Brain Metastasis From Non-Small Cell Lung Cancer To Be Presented As Late-Breaking Abstract At ASCO 2024

WIIM

SPDR Dow Jones Industrial Average ETF Trust

QQQM

Major indexes are higher following earnings reports across sectors. Strong earnings from TXN have lifted chip stocks while Tesla also gained following its Q1 report.

Benchmark analyst Mark Palmer reiterates CompoSecure (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPO#NASDAQ">CMPO</a>) with a Buy and maintains $8 price target.

CMPO

Benchmark Reiterates Buy on CompoSecure, Maintains $8 Price Target

Wells Fargo analyst Elyse Greenspan maintains Brown &amp; Brown (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRO#NYSE">BRO</a>) with a Equal-Weight and raises the price target from $84 to $85.

Wells Fargo Maintains Equal-Weight on Brown & Brown, Raises Price Target to $85

Mattel shares are trading higher after the company reported better-than-expected Q1 adjusted EPS results. Also, DA Davidson maintained a Buy rating on the stock and raised its price target from $26 to $27.

Financial giants have made a conspicuous bearish move on Chevron. Our analysis of options history for Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) revealed 8 unusual trades.
Delving into the details, we found 25% of traders were bullish, while 62% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $157,241, and 5 were calls, valued at $135,676.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $157.5 to $172.5 for Chevron over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Chevron's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Chevron's substantial trades, within a strike price spectrum from $157.5 to $172.5 over the preceding 30 days.
<h3>Chevron Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713969959_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>CVX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$11.85</td>
<td>$11.55</td>
<td>$11.65</td>
<td>$172.50</td>
<td>$79.2K</td>
<td>1</td>
<td style="text-align: right;">91</td>
</tr>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$9.85</td>
<td>$9.8</td>
<td>$9.85</td>
<td>$165.00</td>
<td>$48.2K</td>
<td>310</td>
<td style="text-align: right;">56</td>
</tr>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/03/24</td>
<td>$3.55</td>
<td>$3.5</td>
<td>$3.5</td>
<td>$165.00</td>
<td>$29.7K</td>
<td>44</td>
<td style="text-align: right;">85</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$18.75</td>
<td>$17.7</td>
<td>$17.95</td>
<td>$160.00</td>
<td>$28.7K</td>
<td>395</td>
<td style="text-align: right;">16</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$5.25</td>
<td>$5.15</td>
<td>$5.2</td>
<td>$160.00</td>
<td>$28.6K</td>
<td>13.6K</td>
<td style="text-align: right;">49</td>
</tr>
</tbody>
</table>

<h3>About Chevron</h3>
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.1 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.8 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2023 stood at 11.1 billion barrels of oil equivalent, including 6.0 billion barrels of liquids and 30.4 trillion cubic feet of natural gas.
Following our analysis of the options activities associated with Chevron, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of Chevron</h3>
<ul>
<li>Trading volume stands at 1,353,456, with CVX's price down by -0.37%, positioned at $162.25.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 2 days.</li>
</ul>
<h3>Expert Opinions on Chevron</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $191.6.
<ul>
<li>An analyst from UBS has decided to maintain their Buy rating on Chevron, which currently sits at a price target of $197. </li>
<li>An analyst from Wells Fargo persists with their Overweight rating on Chevron, maintaining a target price of $198. </li>
<li>An analyst from Piper Sandler persists with their Overweight rating on Chevron, maintaining a target price of $204. </li>
<li>An analyst from Truist Securities has decided to maintain their Hold rating on Chevron, which currently sits at a price target of $156. </li>
<li>Reflecting concerns, an analyst from Barclays lowers its rating to Overweight with a new price target of $203.</li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Chevron with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Markets

Looking At Chevron's Recent Unusual Options Activity

Financial giants have made a conspicuous bullish move on Carvana. Our analysis of options history for Carvana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) revealed 13 unusual trades.
Delving into the details, we found 69% of traders were bullish, while 23% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $142,985, and 9 were calls, valued at $1,296,004.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $65.0 to $95.0 for Carvana during the past quarter. 
<h3>Volume &amp; Open Interest Trends</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 Carvana'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 Carvana's whale trades within a strike price range from $65.0 to $95.0 in the last 30 days. 
<h3>Carvana 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713969953_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>CVNA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/10/24</td>
<td>$16.5</td>
<td>$14.45</td>
<td>$15.0</td>
<td>$65.00</td>
<td>$750.0K</td>
<td>5.0K</td>
<td style="text-align: right;">500</td>
</tr>
<tr>
<td>CVNA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$17.7</td>
<td>$17.7</td>
<td>$17.7</td>
<td>$90.00</td>
<td>$146.9K</td>
<td>1.8K</td>
<td style="text-align: right;">83</td>
</tr>
<tr>
<td>CVNA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$14.35</td>
<td>$14.15</td>
<td>$14.35</td>
<td>$80.00</td>
<td>$113.3K</td>
<td>1.2K</td>
<td style="text-align: right;">229</td>
</tr>
<tr>
<td>CVNA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$7.7</td>
<td>$7.15</td>
<td>$7.6</td>
<td>$70.00</td>
<td>$81.8K</td>
<td>4.4K</td>
<td style="text-align: right;">4</td>
</tr>
<tr>
<td>CVNA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/10/24</td>
<td>$7.45</td>
<td>$7.35</td>
<td>$7.45</td>
<td>$76.00</td>
<td>$61.0K</td>
<td>80</td>
<td style="text-align: right;">90</td>
</tr>
</tbody>
</table>

<h3>About Carvana</h3>
Carvana Co is an e-commerce platform for buying and selling used cars. The company derives revenue from used vehicle sales, wholesale vehicle sales and other sales and revenues. The other sales and revenues include sales of loans originated and sold in securitization transactions or to financing partners, commissions received on VSCs and sales of GAP waiver coverage. The foundation of the business is retail vehicle unit sales. This drives the majority of the revenue and allows the company to capture additional revenue streams associated with financing, VSCs, auto insurance and GAP waiver coverage, as well as trade-in vehicles.
In light of the recent options history for Carvana, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of Carvana</h3>
<ul>
<li>With a trading volume of 748,157, the price of CVNA is up by 1.36%, reaching $76.65.</li>
<li>Current RSI values indicate that the stock is may be approaching oversold.</li>
<li>Next earnings report is scheduled for 7 days from now.</li>
</ul>
<h3>Expert Opinions on Carvana</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $75.0.
<ul>
<li>An analyst from JMP Securities has revised its rating downward to Market Outperform, adjusting the price target to $80. </li>
<li>Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Carvana, targeting a price of $78. </li>
<li>An analyst from Evercore ISI Group persists with their In-Line rating on Carvana, maintaining a target price of $77. </li>
<li>An analyst from Baird persists with their Neutral rating on Carvana, maintaining a target price of $65. </li>
<li>Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on Carvana with a target price of $75. </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 Carvana, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

CVNA

Check Out What Whales Are Doing With CVNA

Benzinga's options scanner has just identified more than 8 option transactions on Bilibili (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>), with a cumulative value of $367,771. Concurrently, our algorithms picked up 2 puts, worth a total of 139,625.
<h3>Predicted Price Range</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $10.0 and $18.0 for Bilibili, spanning the last three months.
<h3>Analyzing 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 Bilibili'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 Bilibili's whale trades within a strike price range from $10.0 to $18.0 in the last 30 days. 
<h3>Bilibili Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713969948_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BILI</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/10/24</td>
<td>$5.3</td>
<td>$5.05</td>
<td>$5.15</td>
<td>$17.50</td>
<td>$103.0K</td>
<td>0</td>
<td>0</td>
</tr>
<tr>
<td>BILI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$1.5</td>
<td>$1.46</td>
<td>$1.5</td>
<td>$13.00</td>
<td>$75.0K</td>
<td>3.0K</td>
<td>113</td>
</tr>
<tr>
<td>BILI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/24/24</td>
<td>$0.68</td>
<td>$0.55</td>
<td>$0.67</td>
<td>$14.00</td>
<td>$59.6K</td>
<td>227</td>
<td>1.0K</td>
</tr>
<tr>
<td>BILI</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$2.97</td>
<td>$2.91</td>
<td>$2.93</td>
<td>$14.00</td>
<td>$36.6K</td>
<td>19</td>
<td>170</td>
</tr>
<tr>
<td>BILI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$3.9</td>
<td>$3.8</td>
<td>$3.8</td>
<td>$10.00</td>
<td>$34.2K</td>
<td>129</td>
<td>160</td>
</tr>
</tbody>
</table>

<h3>About Bilibili</h3>
Bilibili is a Chinese online entertainment platform that is best known for its video-sharing site that resembles YouTube. The site was founded in 2009 and started as a long-form video platform for anime, comics, and gaming, or ACG, content that appealed to Gen Z users. Since then, it has expanded its content on the platform to include a broader range of interests that have attracted Chinese users outside of the Gen Z cohort. The firm generates revenue through five main areas: advertising, games, live streaming, value-added services, and e-commerce.
<h3>Present Market Standing of Bilibili</h3>
<ul>
<li>Trading volume stands at 8,236,635, with BILI's price up by 11.49%, positioned at $12.81.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 36 days.</li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Bilibili with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

BILI

Bilibili's Options: A Look at What the Big Money is Thinking

Guidance

Boeing CFO Says Expect To Achieve 787 Rate Increases, Including 10 Per Month By 2026

Wells Fargo analyst Elyse Greenspan maintains WR Berkley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRB#NYSE">WRB</a>) with a Overweight and lowers the price target from $99 to $94.

Wells Fargo Maintains Overweight on WR Berkley, Lowers Price Target to $94

This was an exciting week for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holders and hodlers as the fourth-ever halving took place on Friday. The American consumer got back to work spending ever more on goods and services. Some of that was inflation and some was more consumption. That same consumer is a bit overstretched and some have started paying fees to use buy now, pay later services on rent. While consumers are using more credit, small businesses are finding that more difficult to source. Continuing our series on problems in commercial real estate, tech companies have continued to reduce leasing office space. Finally, DKI Intern, Andrew Brown, provides his view on where young people are having financial difficulties and offers excellent suggestions to begin addressing the problem. Let me know if you&rsquo;d replace Janet Yellen with Andrew as Secretary of the Treasury.
This week, we&rsquo;ll address the following topics:
<ul>
<li>
The Bitcoin halving is here! <a href="https://youtu.be/-7aIf1YnbbU?si=0FxlpzgvxQGPV4Ak&amp;t=10">The Bitcoin halving is here</a>!
</li>
<li>
Good or bad economy, the American consumer continues to spend.
</li>
<li>
Buy now, pay later&hellip;for rent?! What could go wrong?
</li>
<li>
Consumers are using more credit. What about corporations?
</li>
<li>
Tech companies reducing office footprint &ndash; the next problem in commercial real estate.
</li>
<li>
Think the economy is in good shape? Think young people are just soft and entitled? Let&rsquo;s hear from one of them and consider whether his opinion has merit.
</li>
</ul>
Ready for a new week of twice as much information? Let&rsquo;s dive in:
<ul>
<li>
The Bitcoin Halving is Here:
</li>
</ul>
There will be a total of 21MM Bitcoins mined from inception through the middle of the next century. However, those coins won&rsquo;t be mined on a consistent schedule. Just 17 years into Bitcoin&rsquo;s existence, about 19.7MM have been mined. That&rsquo;s almost 94% of the total supply. Approximately every four years, the reward for miners gets cut in half. That means that by the time you read this, daily creation of new Bitcoin will fall from about 900 per day to 450. This is happening at a time when concerns about the debasement of the dollar and other fiat currencies is increasing and when ETFs are allowing a new class of investors to start to buy Bitcoin.
<img alt="bitcoin_halving_-_april_19th_2024.jpg" src="https://www.benzinga.com/files/images/2024/April/24/bitcoin_halving_-_april_19th_2024.jpg" style="height:291px; width:624px" />
A lot of people think Bitcoin will rally post-halving. What do you think?
<img alt="supply_growth_rate_bitcoin_vs_gold_-_april_19th_2024.jpeg" src="https://www.benzinga.com/files/images/2024/April/24/supply_growth_rate_bitcoin_vs_gold_-_april_19th_2024.jpeg" style="height:388px; width:624px" />
Now harder than gold. Chart from <a href="https://financialunderground.com/articles/a-unique-moment-in-monetary-history-is-days-away-and-most-have-no-idea/">Financial Underground</a>.
DKI Takeaway:&nbsp;One reason the dollar price of gold keeps rising and is now at an all-time high is because the supply of gold only increases approximately 2% a year. In contrast, Congress and the US Treasury think nothing of overspending by trillions of dollars each year and just adding to the debt as if the US will never need to pay what it owes. By the time you read this, Bitcoin will have become &ldquo;harder&rdquo; than gold. That means the creation of new units compared to the total supply available is even lower for Bitcoin than gold. As for the &ldquo;hardness&rdquo; of the US dollar, that&rsquo;s a disaster which we&rsquo;re all experiencing as inflation. DKI owns both Bitcoin and gold.
<ul>
<li>
Americans Continue to Spend &ndash; A Lot:
</li>
</ul>
Retail sales were up 0.7% this month. That was well above expectations of 0.3% and annualizes to 8.7%. Most of that increase was higher prices as the CPI was up 0.4% from the prior month, and DKI thinks the CPI is understated. Higher gas prices also have an impact even as Americans commute less than they did a few years ago.
<img alt="retail_sales_change_mm_-_april_19th_2024.jpg" src="https://www.benzinga.com/files/images/2024/April/24/retail_sales_change_mm_-_april_19th_2024.jpg" style="height:311px; width:624px" />
It was another month of big spending following four months of weaker results.
<img alt="retail_sales_mm_-_april_19th_2024.jpg" src="https://www.benzinga.com/files/images/2024/April/24/retail_sales_mm_-_april_19th_2024.jpg" style="height:313px; width:624px" />
Americans aren&rsquo;t thrilled with &ldquo;disinflation&rdquo; because prices keep rising off of a higher base.
DKI Takeaway:&nbsp; While I think it&rsquo;s unwise to live beyond your means, it&rsquo;s easy to understand why consumers keep spending. The government exercises no spending restraint and refuses to acknowledge tradeoffs between program benefits and costs. Bank bailouts in 2008 are still fresh in the memories of many, and now, people who never went to college are about to get the bill for the degrees of others. Neither the banks, nor the universities, nor the people who financed the student loans will suffer those losses. In this environment, who&rsquo;s left to credibly preach financial restraint?
<ul>
<li>
Buy Now, Pay Later for Rent. What Could Go Wrong?:
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</ul>
DKI has previously reported on the expanded use of buy now, pay later (BNPL) including when people started using it at fast food restaurants. (A McDonalds happy meal on layaway?) Companies like Flex are <a href="https://www.facebook.com/WasatchPropertyManagement/videos/2835179679930279">advertising</a> that using BNPL to pay your rent is about &ldquo;taking control&rdquo; of your finances. Flex charges people who want the liberation of not having to pay their rent on time a $14.99 monthly fee plus <a href="https://help.getflex.com/hc/en-us/articles/360059672453-How-Rent-Is-Paid">just 1% of the payment amount</a>. So, what could go wrong?
<img alt="b_-_credit_card_debt_-_april_19th_2024.jpg" src="https://www.benzinga.com/files/images/2024/April/24/b_-_credit_card_debt_-_april_19th_2024.jpg" style="height:369px; width:624px" />
The perfect time to launch new credit products
DKI Takeaway:&nbsp;Terms marketed as &ldquo;freedom&rdquo; to &ldquo;take control&rdquo; of your rent payments really mean pay later for a financing fee. In general, people who want to pay late do so because they&rsquo;re falling behind; a trend that&rsquo;s likely to continue. At that point, Flex starts charging up to a 36% APR on outstanding balances. Unsurprisingly, that part is in the fine print that&rsquo;s harder to find than the cartoon videos advertising the &ldquo;benefits&rdquo;. These products are great to help people who need an occasional delay to avoid bouncing a check or being late with the rent. When it&rsquo;s something people rely on, it&rsquo;s easy for this to become a trap.
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<li>
Is Bank Credit a Mark of Economic Strength?:
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Consumers are spending more and financing more, but for corporations, the situation is different. After increasing credit usage during the Covid years, commercial bank credit has been on a plateau for the past year. Historically, the use of credit by businesses to expand has been correlated with a strong economy and private sector growth. Recession fears combined with banks reducing liquidity has caused credit use by corporations to stall.
<img alt="commerical_bank_credit_-_april_19th_2024.jpg" src="https://www.benzinga.com/files/images/2024/April/24/commerical_bank_credit_-_april_19th_2024.jpg" style="height:359px; width:624px" />
This is not a sign of a growing economy.
DKI Takeaway:&nbsp; Many economists predicted a recession in 2024. DKI disagreed and said that massive governmental stimulus would skew the numbers and keep us out of an official recession. Government spending is becoming a larger part of GDP and is masking weakness in the private economy. Banks have slowed lending, businesses have been reducing growth and investing plans, and inflation has started to increase again. The mainstream press continues to run articles admonishing Americans for not appreciating our great economy. All new jobs are part-time and almost all of them are either in government or in sectors of the economy financed by government. There&rsquo;s a reason people in the productive private economy are dissatisfied.
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<li>
Tech Companies Reducing Office Footprint:
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We&rsquo;ve been reporting on problems in the commercial real estate sector for the past few editions of The Five Things. More people moving away from big cities combined with employees&rsquo; insistence on working from home/anywhere are putting pressure on the commercial office space market. This week, the Wall Street Journal reported on technology companies reducing the amount of office space they use. Due to the nature of their work, tech employees are well-equipped to be effective outside the office. Making the situation worse, tech companies defensively grabbing more office space than they needed contributed to huge growth in the rental markets in hubs like Seattle and San Francisco. That&rsquo;s being reversed. The WSJ now <a href="https://www.wsj.com/real-estate/commercial/big-tech-is-downsizing-work-space-in-another-blow-to-office-real-estate-67b4685c?st=gdwvwl3aytmxsg3&amp;reflink=desktopwebshare_permalink">reports</a> that &ldquo;San Francisco&rsquo;s office-vacancy rate hit a record 36.7% in 1Q&rdquo;. That&rsquo;s up from 3.6% in 2019.
<img alt="us_tech_industry_office_leasing_activity_-_april_19th_2024.jpg" src="https://www.benzinga.com/files/images/2024/April/24/us_tech_industry_office_leasing_activity_-_april_19th_2024.jpg" style="height:520px; width:624px" />
Employers still having trouble getting people back in the office. Chart by <a href="https://www.wsj.com/real-estate/commercial/big-tech-is-downsizing-work-space-in-another-blow-to-office-real-estate-67b4685c?st=gdwvwl3aytmxsg3&amp;reflink=desktopwebshare_permalink">Wall Street Journal</a>.
DKI Takeaway:&nbsp;Every week, we&rsquo;re relaying more problems in the commercial real estate market, and the fear is that this will become the 2024 version of the housing market in 2008. On the positive side, there&rsquo;s probably less leverage in the commercial side now than in the housing market then. On the negative side, housing demand didn&rsquo;t disappear, but demand for office and retail space is vaporizing. We&rsquo;ve heard rumors that Washington DC already has a plan to bail out overleveraged property owners and the banks that lend to them. DKI hopes that doesn&rsquo;t happen. Until people suffer the consequences of making bad decisions, we&rsquo;re going to keep getting more bad decisions, and will have intensifying boom and bust cycles.
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The Economy from the Point of View of Someone Who&rsquo;s 20:
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Written by DKI Intern, Andrew Brown:&nbsp;American have been struggling financially in many ways, but especially the younger generations. Inflation has made it more difficult for my generation to buy a home, or even to afford food at the grocery store. A core driver of the struggle is government spending and incompetency which is a bipartisan problem. As DKI has written, government involvement in education funding has incentivized universities to raise tuition to levels that don&rsquo;t match the job prospects of their graduates. Excessive government spending has locked us into $3.8 trillion of annual obligations that can only be adjusted with changes to benefit programs, something that politicians and voters reject. Unless Washington addresses this issue, continued overspending means my generation will be the ones to pay the price.
<img alt="2023_federal_budget_-_april_19th_2024.jpg" src="https://www.benzinga.com/files/images/2024/April/24/2023_federal_budget_-_april_19th_2024.jpg" style="height:388px; width:624px" />
DKI notes that this graph shows interest expense of $659B. By next year, that will be at least $1 trillion short. <a href="https://www.cbo.gov/publication/59727">Graph from the CBO</a>.
DKI Takeaway:&nbsp;The government likes to preach that people should gain financial literacy and save, but it doesn&rsquo;t live by those guidelines. The government is unable to manage a budget or evaluate tradeoffs. They are in charge of education, but spend no time and effort teaching finance and budgeting to students. The schools do not prepare students for the workplace. Teaching students to save and invest could reduce the Social Security burden that will fall on me and my peers. Starting to prepare for that now would reduce our future reliance on these bankrupt programs and could reduce government spending. Long-term, that would reduce government deficits and result in lower inflation; something many of you in older generations might appreciate. (Gary here &ndash; Andrew is DKI&rsquo;s 8th intern and they all understand this issue. The problem existed before they were old enough to vote. Spend some time with these young people, and you&rsquo;ll quickly realize many of them are smart, worldly, hard-working, and lack any sense of entitlement. Well done, Andrew!)
Information contained in this report, and in each of its reports, is believed by Deep Knowledge Investing (&ldquo;DKI&rdquo;) to be accurate and/or derived from sources which it believes to be reliable; however, such information is presented without warranty of any kind, whether express or implied.&nbsp; DKI makes no representation as to the completeness, timeliness, accuracy or soundness of the information and opinions contained therein or regarding any results that may be obtained from their use.&nbsp;The information and opinions contained in this report and in each of our reports and all other DKI Services shall not obligate DKI to provide updated or similar information in the future, except to the extent it is required by law to do so.&nbsp;
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None of the information we provide or the opinions we express, including those in this report, or in any of our reports, are advice of any kind, including, without limitation, advice that investment in a company&rsquo;s securities is prudent or suitable for any investor. In making any investment decision, each investor should consult with and rely on his or its own investigation, due diligence and the recommendations of investment professionals whom the investor has engaged for that purpose.&nbsp;
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Wells Fargo analyst Donald Fandetti maintains American Express (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) with a Overweight and raises the price target from $250 to $265.

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Transportation Secretary Buttigieg Says Boeing Meeting 90-Day FAA Quality Plan Is Key To Getting Approval To Boost 737 Max Production

Wednesday,&nbsp;Immutep Limited&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMMP#NASDAQ">IMMP</a>)&nbsp;<a target="_blank" href="https://www.immutep.com/detail/immutep-announces-positive-preliminary-topline-results-from-tacti-003-cohort-b.html" rel="noreferrer noopener">released</a>&nbsp;preliminary topline results from Cohort B of the TACTI-003 (KEYNOTE-PNC-34) Phase IIb trial evaluating&nbsp;eftilagimod&nbsp;alpha (efti) in combination with&nbsp;Merck &amp; Co Inc&#8217;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) Keytruda (pembrolizumab) as first-line treatment of recurrent/metastatic head and neck squamous cell carcinoma patients (1L HNSCC) with negative PD-L1 expression.
The investigational immuno-oncology combination demonstrates an overall response rate (ORR) of 26.9% and disease control rate (DCR) of 57.7% in 26 patients whose tumors do not express PD-L1, which compares favorably to historical controls.
Martin Forster, TACTI-003 Investigator, stated, &#8220;These preliminary topline results in the first-line setting for patients with head and neck squamous cell cancers that do not express PD-L1 are encouraging.&nbsp;
A total of 33 patients with recurrent or metastatic HNSCC have&nbsp;been enrolled&nbsp;in Cohort B.&nbsp;
The 26 patients reported today represent those currently available with sufficiently long enough follow-up time as per protocol and where the data cleaning has sufficiently progressed at the time of data cut-off in February.&nbsp;
The final number of evaluable patients in Cohort B&nbsp;is expected&nbsp;to be higher, and additional data, including complete response rate, will be released together with Cohort A data.
Concerning the randomized Cohort A of the TACTI-003 trial&nbsp;evaluating&nbsp;the safety and efficacy of efti in combination with Keytruda as compared to Keytruda monotherapy, 138 patients with PD-L1 positive tumors have been enrolled at over 30 centers globally.&nbsp;
Data collection, cleaning, and analysis continue for TACTI-003, and the company expects to report the primary endpoint (overall response rate from Cohorts A &amp; B in H1 CY2024.
Head and neck squamous cell carcinoma (HNSCC) is the sixth most common cancer by incidence worldwide, with 890,000 new cases and 450,000 deaths reported in 2018.
Efti has received FDA Fast Track designation in 1L HNSCC regardless of PD-L1 expression.
Last month,&nbsp;Immutep&nbsp;announced safety and initial efficacy data from the first-ever 90mg dosing of&nbsp;eftilagimod&nbsp;alpha (efti) in combination with weekly paclitaxel in patients from the safety lead-in (N=6) of the&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/03/37493118/cancer-focused-immuteps-stock-soars-on-tuesday-heres-why" rel="noreferrer noopener">AIPAC-003 Phase 2/3 trial</a>.
Price Action: IMMP shares are up 14.90% at $2.89 at the last check Wednesday.
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Why Australian Cancer Biotech Firm Immutep Stock Is Soaring On Wednesday?

Wells Fargo analyst Timur Braziler maintains Popular (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPOP#NASDAQ">BPOP</a>) with a Overweight and raises the price target from $105 to $115.