 (OTC:AHLHS) Stock, Quote.Headers.trade-ideas

Canaccord Genuity analyst George Gianarikas maintains Surf Air Mobility (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRFM#NYSE">SRFM</a>) with a Hold and raises the price target from $2.2 to $4.

News

Price Target

Analyst Ratings

SRFM

Canaccord Genuity Maintains Hold on Surf Air Mobility, Raises Price Target to $4

Elon Musk&#8216;s rocket manufacturing company SpaceX is now looking to turn its site in <a href="https://www.benzinga.com/news/24/10/41479388/elon-musk-says-tesla-spacex-manufactured-in-costly-california-just-because-he-lived-there-even-as-ri">Starbase, Texas, into a new city</a>. 
What Happened: Starbase General Manager Kathryn Lueders on Thursday submitted a letter to Cameron County Judge Eddie Trevino, Jr. requesting an election to determine whether Starbase should be incorporated as a city. 
&#8220;To continue growing the workforce necessary to rapidly develop and manufacture Starship, we need the ability to grow Starbase as a community. That is why we are requesting that Cameron County call an election to enable the incorporation of Starbase as the newest city in the Rio Grande Valley,&#8221; SpaceX wrote in its letter.
The company also said that incorporating Starbase as a city will streamline the processes required to build the amenities necessary to make the area a &#8220;world-class place&#8221; to live for the people already there as well as future employees of the company.
&#8220;SpaceX HQ will now officially be in the city of Starbase, Texas!,&#8221; Musk announced on social media platform X, formerly Twitter, upon reposting Lueders&#8217; letter. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">SpaceX HQ will now officially be in the city of Starbase, Texas! <a href="https://t.co/zpN4t3mJQT">https://t.co/zpN4t3mJQT</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1867382483714502670?ref_src=twsrc%5Etfw">December 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: SpaceX, on its website, currently lists its headquarters as Hawthorne, California, where it produces its Falcon 9 workhorse. 
In July, Musk said he would move the headquarters of&nbsp;SpaceX&nbsp;from Hawthorne to&nbsp;<a href="https://www.benzinga.com/news/24/07/39804744/spacex-x-to-move-headquarters-from-california-to-texas-musk-calls-it-the-final-straw-criticizes-gov" target="_blank" rel="noreferrer noopener">Starbase</a>. The company does all operations surrounding its <a href="https://www.benzinga.com/general/space/24/12/42477647/elon-musk-reveals-spacexs-new-starship-spacecraft-is-easier-to-manufacture-and-less-susceptible-to-high-heating-ahead-of-7th-test-flight">ambitious Starship launch vehicle</a> in Starbase, Texas, including its manufacturing and testing. 
Musk moved the headquarters of his EV company Tesla from California to Austin in 2021 citing disagreements with state policies. The billionaire himself also relocated to Texas that year.
While California has a history of supporting Democratic candidates, Texas is a republican stronghold.&nbsp;Musk is now aligning himself with the Republican party with the help of a newly forged relationship with President-elect Donald Trump. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42453807/spacex-hits-350-billion-valuation-in-insider-share-sale-ceo-elon-musk-says-no-investors-wanted-to-sell-shares" target="_blank" rel="noreferrer noopener">SpaceX Hits $350 Billion Valuation In Insider Share Sale: CEO Elon Musk Says ‘No Investors Wanted To Sell Shares&#8217;</a></li>
</ul>
Photo courtesy: SpaceX

SPACE

Tech

Elon Musk's SpaceX Wants To Turn Its Starbase Site Into A City

Canaccord Genuity analyst Austin Moeller maintains Archer Aviation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>) with a Buy and raises the price target from $8.5 to $11.

ACHR

Canaccord Genuity Maintains Buy on Archer Aviation, Raises Price Target to $11

On Thursday, International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) along with Illinois Governor JB Pritzker, disclosed a partnership to create the National Quantum Algorithm Center in the Illinois Quantum and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/n42470590/ibm-and-state-of-illinois-to-build-national-quantum-algorithm-center-in-chicago-with-universities-" rel="noreferrer noopener">Microelectronics Park (IQMP) in Chicago</a>.
The National Quantum Algorithm Center, anchored by IBM alongside quantum pioneers such as the University of Chicago and the University of Illinois Urbana-Champaign, will leverage IBM&#8217;s next-generation quantum computer, the IBM Quantum System Two.
This advanced system, powered by IBM Quantum Heron, is set to launch at the Illinois Quantum and Microelectronics Park (IQMP) in Chicago next year.
The IBM Quantum System Two will enable utility-scale algorithms surpassing classical simulation methods.
Researchers can utilize this system via IBM's Qiskit software, designed to extend the complexity and accuracy of quantum circuits for solving scientific and research challenges.
Illinois&#8217; quantum ecosystem will leverage IBM&#8217;s quantum-centric supercomputing to tackle complex industry challenges.
This next-gen computing integrates quantum and classical systems with advanced software, enabling each architecture to solve parts of algorithms best suited to its strengths, unlocking applications beyond the reach of standalone systems.
Arvind Krishna, Chairman and CEO, said, &#8220;With IBM&#8217;s best performing quantum hardware and software in the heart of&nbsp;Illinois&#8217;&nbsp;innovation network, together we can truly unlock the potential of quantum computing to solve the world&#8217;s hardest problems.&#8221;
Governor JB Pritzker added,&nbsp;&#8220;The groundbreaking National Quantum Algorithm Center in&nbsp;Illinois&nbsp;represents a transformative step forward, whose impact will reverberate throughout the tech industry and beyond.&#8221;
Investors can gain exposure to the stock via First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TDIV#NASDAQ">TDIV</a>) and FT Vest Technology Dividend Target Income ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/TDVI#BATS">TDVI</a>).
Price Action: IBM shares are up 0.19% at $232.70 premarket at the last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42443202/2025-investment-themes-ai-energy-defense-redefine-us-markets" target="_blank" rel="noreferrer noopener">2025 Investment Themes: AI, Energy, Defense Redefine US Markets</a></li>
</ul>
Photo via Shutterstock.

Equities

Large Cap

Contracts

TDIV

TDVI

IBM And Illinois Team Up To Supercharge Quantum Computing: Details

The CHMP's recommendation will now be reviewed by the European Commission for marketing authorization in the European Union (EU), and a final decision is expected in the first quarter of 2025.
 &nbsp;

Biotech

Health Care

General

The European Medicines Agency's Committee For Medicinal Products For Human Use Adopted Positive Opinion Recommending The Conditional Approval Of Merck's Welireg (Belzutifan) For Advanced Renal Cell Carcinoma

Morgan Stanley analyst David Arcaro upgrades Sempra (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRE#NYSE">SRE</a>) from Equal-Weight to Overweight and raises the price target from $85 to $98.

Upgrades

Morgan Stanley Upgrades Sempra to Overweight, Raises Price Target to $98

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates Krystal Biotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRYS#NASDAQ">KRYS</a>) with a Buy and maintains $221 price target.

Reiteration

KRYS

HC Wainwright & Co. Reiterates Buy on Krystal Biotech, Maintains $221 Price Target

A2Z Cust2Mate Solutions Reveals Aggregate $12.5M Registered Direct Offering, Priced At $6.40 Per Share, With No Warrants

Morgan Stanley analyst James Faucette upgrades TaskUs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TASK#NASDAQ">TASK</a>) from Equal-Weight to Overweight and raises the price target from $18 to $21.

TASK

Morgan Stanley Upgrades TaskUs to Overweight, Raises Price Target to $21

Financing

Offerings

Inovio Pharmaceuticals Priced An Underwritten Public Offering Of 10M Shares And Accompanying Warrants To Purchase 10M Shares At An Exercise Price Of $3.76/Share, At A Combined Public Offering Price Of $3/Share And Accompanying Warrant, With Gross Proceeds Of $30M

Wells Fargo analyst Stephen Baxter upgrades Cardinal Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAH#NYSE">CAH</a>) from Underweight to Equal-Weight and raises the price target from $101 to $127.

Wells Fargo Upgrades Cardinal Health to Equal-Weight, Raises Price Target to $127

CLSK

CleanSpark Announced The Pricing Of Its Offering Of $550M Aggregate Principal Amount Of 0.00% Convertible Senior Notes Due 2030

This special dividend is payable on January 15, 2025 to shareholders of record on January 3, 2025 and&nbsp;will return approximately $500 million to shareholders.

Dividends

Old Republic International Declares Special Cash Dividend Of $2.00 Per Share

Morgan Stanley analyst Andrew Galler downgrades Immunocore Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMCR#NASDAQ">IMCR</a>) from Overweight to Equal-Weight and lowers the price target from $74 to $35.

Downgrades

IMCR

Morgan Stanley Downgrades Immunocore Hldgs to Equal-Weight, Lowers Price Target to $35

UBS analyst A.J. Rice upgrades Centene (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>) from Neutral to Buy and raises the price target from $79 to $80.

UBS Upgrades Centene to Buy, Raises Price Target to $80

Morgan Stanley analyst Jeffrey Hung downgrades Amicus Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOLD#NASDAQ">FOLD</a>) from Overweight to Equal-Weight and lowers the price target from $17 to $12.

FOLD

Morgan Stanley Downgrades Amicus Therapeutics to Equal-Weight, Lowers Price Target to $12

Barclays analyst Brandt Montour downgrades Viking Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIK#NYSE">VIK</a>) from Overweight to Equal-Weight and maintains the price target from $49 to $49.

Barclays Downgrades Viking Holdings to Equal-Weight, Maintains Price Target to $49

Kimco Realty Reveals Final Results Of Cash Tender Offer To Purchase All Of Its Outstanding Depositary Shares Representing 1/1,000 Of A Share Of 7.25% Class N Cumulative Convertible Perpetual Preferred Stock And Consent Solicitation

BTIG analyst Justin Zelin initiates coverage on Enliven Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELVN#NASDAQ">ELVN</a>) with a Buy rating and announces Price Target of $42.

Initiation

ELVN

BTIG Initiates Coverage On Enliven Therapeutics with Buy Rating, Announces Price Target of $42

U.S. stock futures advanced on Friday in premarket hours after declining in trade on Thursday. The futures of all four major indices were trading higher.
The 10-year and two-year Treasury notes yielded 4.33% and 4.19%, respectively. Traders await the import price index data, which will be released later today.
Wall Street is waiting for the Federal Reserve&#8217;s policy meeting next week. Federal Reserve officials are currently in a quiet period ahead of their December meeting.
November inflation data was in line with analyst expectations, shooting up the probability of a further 25 basis point rate cut in December rose to 96.7% versus 86% probability a week ago, according <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> CME Group&#8217;s FedWatch tool.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.65%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.33%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.23%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.29%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Friday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 0.41% to $606.79&nbsp;and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) jumped 0.76% to $530.49, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Cues From The Last Session
<a href="https://www.benzinga.com/news/earnings/24/12/42478606/dow-dips-more-than-200-points-following-inflation-data-nvidia-and-amd-decline-fear-greed-index-remains-in-neutral-zone">U.S. stocks closed lower</a> on Thursday, with the Dow Jones shedding over 200 points. The market reacted to fresh inflation data and weaker-than-expected guidance from tech giants.
Technology stocks were among the day&#8217;s biggest losers. Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares dipped over 1%, while Adobe Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) plummeted more than 13% after issuing a disappointing 2025 outlook.
On the economic front, initial jobless claims rose to 242,000, higher than the estimated 220,000. Core producer prices increased by 0.2% month-over-month, aligning with market expectations.
Most S&amp;P 500 sectors ended the day in the red, with healthcare, consumer discretionary, and communication services bearing the brunt of the decline.
However, consumer staples bucked the trend and closed higher.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.66%</td>
<td>19.902.84</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.54%</td>
<td>6,051.25</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.53%</td>
<td>43,914.12</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.38%</td>
<td>2,361.08</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts
Picking up from Thursday&#8217;s session, Jason Goepfert, the founder of SentimenTrader, said, &#8220;This will be the S&amp;P 500&#8217;s 9th consecutive session with negative breadth. That&#8217;s happened fewer than 20 times in ~70 years. On average, the S&amp;P has been -12% from its high during these streaks.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This will be the S&amp;P 500&#39;s 9th consecutive session with negative breadth. That&#39;s happened fewer than 20 times in ~70 years. On average, the S&amp;P has been -12% from its high during these streaks. Today marks the closest the S&amp;P has been to its high. The 2 most similar were Dec… <a href="https://t.co/rxHkoG1AzD">pic.twitter.com/rxHkoG1AzD</a>
&mdash; Jason Goepfert (@jasongoepfert) <a href="https://twitter.com/jasongoepfert/status/1867309528573956329?ref_src=twsrc%5Etfw">December 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Talking about the future of AI, BlackRock in their 2025 outlook said, &#8220;We think the AI mega force will benefit U.S. stocks more and that's why we stay overweight, particularly relative to international peers such as European stocks.&#8221;
The note added that the &#8220;key signposts&#8221; for them to change their views will include any &#8220;surge in long-term bond yields or an escalation in trade protectionism.&#8221;
The note also added that BlackRock has conviction in U.S. equities outperforming their international peers. &#8220;We recognize valuations are rich in U.S. equities but don't see them as a near-term market driver,&#8221; it added.
According to Charles Schwab&#8217;s 2025 outlook, the volatility backdrop is likely to be different from what investors got used to in 2024. &#8220;The likelihood of a similar dynamic in 2025 is low, in our opinion,&#8221; the note said.
&#8220;Starting with where we are now, though, the market is in a relatively healthy position. As shown in the chart below, the S&amp;P 500 is comfortably above its 50 and 200-day moving averages; and when its 50 DMA was above its 200 DMA historically, the average annualized gain for the index (going back to the late 1920s) was 9.2%. There is strong momentum heading into the new year.&#8221;
However, &#8220;If inflation volatility picks back up, which will become clearer after tariff and labor policy implementations, there could be more risks to stocks via bonds,&#8221; Schwab note adds.
See Also:&nbsp;<a href="https://www.benzinga.com/money/how-to-trade-futures" target="_blank" rel="noreferrer noopener">How To Trade Futures</a>
Upcoming Economic Data
<ul>
<li>On Friday, the import price index data will be released at 8:30 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) was 14.38% up in premarket after it saw a four-fold increase in AI connectivity revenue driven by Tomahawk and Jericho shipments. The management also highlighted a significant reduction in VMware spending in the fourth quarter.</li>
<li>RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>) was up 17.23% after it raised revenue guidance across the board based on current trends.</li>
<li>Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) was up 0.3% in premarket after it reported its first-quarter revenue and earnings per share, which beat analyst estimates.</li>
<li>Inovio Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INO#NASDAQ">INO</a>) was down 22.61% after it announced a proposed public offering.</li>
<li>Loop Industries Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOOP#NASDAQ">LOOP</a>) gained 51.22% as completed convertible preferred financing with Reed Societe Generale Group.</li>
<li>Repare Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPTX#NASDAQ">RPTX</a>) tumbled 38.29% after it reported results of the Lunresertib and Camonsertib combination from MYTHIC Phase 1 gynecologic expansion clinical trial.</li>
<li>Candel Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAD#NASDAQ">CAD</a>) fell 31.12% after the company announced the pricing of its public offering.</li>
<li>Amentum Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMTM#NYSE">AMTM</a>) was up 0.6% ahead of its earnings which are slated to be released before the opening bell. Analysts expect the company to report quarterly earnings at 25 cents per share.</li>
<li>Investors are awaiting earnings results from 51Talk Online Education Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COE#NYSE">COE</a>) today.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures rose in the early New York session by 1.19% to hover around $70.86 per barrel.
The gold spot index fell by 0.88% to $2,685.59 per ounce. The Dollar Index was up 0.01% to 106.964 level.
Most Asian markets declined on Friday including Australia&#8217;s ASX 200, Hong Kong&#8217;s Hang Seng, China&#8217;s CSI 300, and Japan&#8217;s Nikkei 225. India&#8217;s S&amp;P BSE Sensex and South Korea&#8217;s Kospi Index, bucked the trend as they advanced. Most European markets advanced.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42460199/jpmorgan-reiterates-underweight-rating-on-supermicro-maintains-the-lowest-target-price-among-the-17-tracked-analysts">SMCI Stock Receives Harshest Price Target Among 17 Tracked Analysts As JPMorgan Maintains Underweight Rating On Super Micro</a></li>
</ul>
Photo courtesy: Wikimedia

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NVDA

RPTX

US Stocks Likely To Open Higher, Investors Eye Fed Policy Meet Next Week: Broadcom, RH, Costco In Focus

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