Latest news for  (OTC:AHLUS) Stock

Jefferies analyst Gerald O'Hara maintains Raymond James Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RJF#NYSE">RJF</a>) with a Hold and raises the price target from $123 to $126.

News

Price Target

Analyst Ratings

Jefferies Maintains Hold on Raymond James Finl, Raises Price Target to $126

Piper Sandler analyst Paul Newsome maintains Old Republic Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORI#NYSE">ORI</a>) with a Overweight and raises the price target from $35 to $36.

Piper Sandler Maintains Overweight on Old Republic Intl, Raises Price Target to $36

Jefferies analyst Gerald O'Hara maintains LPL Finl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) with a Buy and lowers the price target from $309 to $282.

LPLA

Jefferies Maintains Buy on LPL Finl Hldgs, Lowers Price Target to $282

<h4>Key Takeaways:</h4>
<ul>
<li>IPO candidate Qiniu lost more than 750 million yuan combined in the past three years, and saw its loss widen by 50.5% in the first quarter to 143 million yuan</li>
<li>The audiovisual PaaS platform boasts a star-studded group of early investors, including Alibaba, Qiming and MPCi</li>
</ul>
By Fai Pui
It&rsquo;s been a frantic three weeks on the Hong Kong Stock Exchange, where shares have suddenly awakened from a three-year slumber to surge more than 30% on hopes for a Chinese economic recovery. Not surprisingly, the surge is lighting a fire under a wave of IPO candidates rushing to ride the wave, including cloud services provider&nbsp;Qiniu Ltd., which passed its listing hearing with the Hong Kong Stock Exchange on Sept. 22.
The Mainland and Hong Kong stock markets were already rallying when the gains went on steroids after Beijing&rsquo;s announcement of a new series of stimulus measures on Sept. 24. The Hong Kong Stock Exchange reported record turnover of HK$445.7 billion ($57.3 billion) on Sept. 27, as the benchmark Hang Seng Index surged by 2,373 points last week alone to cross the 20,000 mark.
Things are certainly looking positive for new IPOs like Qiniu&rsquo;s. Shares of Midea Group (0300.HK) have risen steadily since their recent listing, and last week kitchenware maker Carote (2549.HK) also came charging out of the gate with strong first-day gains. Qiniu, which operates a cloud-based audiovisual platform as a service (PaaS) platform, is finally making it to market after two previously failed bids in Hong Kong, with mid-sized banks Shenwan Hongyuan and Bocom International as joint sponsors.
The company&nbsp;<a href="https://thebambooworks.com/brief-alibaba-backed-qiniu-to-raise-60-million-in-hong-kong-ipo/">aims to raise</a>&nbsp;about HK$457 million from the share sale, with the nearly 160 million shares being offered set to make their trading debut on Oct. 16.
Founded in 2011, Qiniu is China&rsquo;s third largest audiovisual PaaS platform. Its PaaS model lets users access its suite of cloud-based hardware and software hosted on the company&rsquo;s own servers. Qiniu&rsquo;s offers two types of products, MPaaS and APaaS.
The former primarily focuses on providing cloud services in connection with audiovisual content, letting customers make their audiovisual products easier to use and more accessible. The latter offers a one-stop platform for users to develop, run and manage their applications. The company&rsquo;s APaaS solutions currently cover five major application scenarios, including social entertainment, video marketing, visual networking, smart new media and the metaverse.
Qiniu&rsquo;s revenue last year rose 16% to 1.33 billion yuan ($189 million) as semiconductor supply chains recovered slightly but were still below 2021 levels, according to its&nbsp;<a href="https://www1.hkexnews.hk/app/sehk/2024/106794/documents/sehk24092401376.pdf">latest listing document</a>. Revenue growth accelerated to 26.4% in the first quarter at 342 million yuan. MPaaS is currently the company&rsquo;s largest revenue source, accounting for nearly 73% of its total last year. Revenue from APaaS is rising fast, growing from 1.7% of the total in 2021 to 24.3% at the end of March this year.
Qiniu&rsquo;s biggest headache right now is its continual losses. It lost 220 million yuan in 2021, which dropped slightly to 213 million yuan in 2022, before jumping to 324 million yuan last year. The loss widened by a further 50.5% to 143 million yuan year-on-year in the first quarter of 2024.
Like most of its PaaS peers, Qiniu&rsquo;s losses stem from rising costs and fair value losses on its convertible redeemable preferred shares. The company laid out &ldquo;a path to profitability&rdquo; in the listing documents. It said it will start by sharpening its focus on the more profitable APaaS business, whose gross margin of 30.1% last year was well ahead of the 19.3% for its older MPaaS business. As APaaS ramps up, the number of newly paying users for that business grew from 8,079 in 2021 to around 245,000 last year.
Qiniu said it will also work to make its MPaaS more competitive, expand its user base and cut costs by optimizing management and sales and simplifying business procedures.
Founder Xu Shiwei, who is only 46, was previously a technical director at&nbsp;Kingsoft&nbsp;(3888.HK), where he supervised the establishment of a lab dedicated to developing distributed storage technologies. Afterwards, he worked as a senior researcher at former gaming and media giant Shanda Interactive, where he led the launch of Shanda NetDisk and the Shanda Grand Cloud web platform.
<h3>Big-Name Backers</h3>
Xu&rsquo;s status as a seasoned industry veteran has helped him to attract a constellation of deep-pocketed investors to his company. Between 2011 and 2020, Qiniu completed six financing rounds that raised a total of over 3 billion yuan from shareholders including Alibaba (BABA.US; 9988.HK), Yunfeng, Qiming, MPCi, Bocom and state-owned Structural Adjustment Fund Co.
Xu holds about 18% of Qiniu&rsquo;s shares pre-IPO, while Alibaba&rsquo;s Taobao is the second biggest shareholder with 17.7%. Yunfeng&rsquo;s Magic Logistics held 12.4%.
Before settling on Hong Kong, the company applied for a U.S. listing in February 2021 but didn&rsquo;t succeed. &ldquo;We voluntarily withdrew our U.S. listing application due to unfavorable capital markets conditions in the U.S. at the time,&rdquo; it explained in its Hong Kong listing document. &ldquo;We experienced no difficulty in addressing the SEC&rsquo;s comments,&rdquo; it added, referring to the American securities regulator.
Qiniu is also no stranger to the Hong Kong Stock Exchange either. It applied for a Hong Kong IPO for the first time in 2023 but didn&rsquo;t succeed, then reapplied again in March this year. That application expired in September, bringing us to the present where its latest application passed its listing hearing.
The company looks likely to cross the finish line this time, not only to seize on the recent market momentum but also to give its early investors a way to cash out. It could also use some fresh cash to supplement its relatively meager 148 million yuan at the end of July.
The company&rsquo;s valuation reached $683 million after its last funding round in 2020. Its latest valuation would be slightly higher, around $721 million, if the shares price in the middle of their IPO range. But we should also note that cloud service stocks have done poorly in Hong Kong lately, which could pressure its valuation.&nbsp;Ming Yuan Cloud&nbsp;(0909.HK) is down nearly 20% over the past year and&nbsp;Bairong&nbsp;(6608.HK) is down around 10%, valued at HK$5.08 billion and HK $4.29 billion, respectively, as of last Friday.
Ming Yuan Cloud currently trades at a price-to-sales (P/S) ratio of 2.9 times and Bairong at a mere 1.4 times. Qiniu trades at 3.8 times, based on calculations using last year&rsquo;s revenue and its latest IPO valuation, which is much higher than its two peers. That seems to show investors are confident in the company&rsquo;s big-name founder and backers. Those investors could stand to make some big gains if the company can make it to market while the current rally continues.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Cash-Strapped Qiniu Charges To Market To Seize On Hong Kong Rally

Looking into the current session, TJX Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) shares are trading at $114.06, after a 0.87% drop. Over the past month, the stock decreased by 1.34%, but over the past year, it actually went up by 28.59%. With questionable short-term performance like this, and great long-term performance, long-term shareholders might want to start looking into the company's price-to-earnings ratio. 

<img src="https://www.benzinga.com/files/images/story/2024/1728060617_0.png" alt="Past Year Chart" />

<h3>A Look at TJX Companies P/E Relative to Its Competitors</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
TJX Companies has a better P/E ratio of 27.86 than the aggregate P/E ratio of 19.45 of the Specialty Retail industry. Ideally, one might believe that TJX Companies Inc. might perform better in the future than it's industry group, but it's probable that the stock is overvalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1728060617_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

Markets

P/E Ratio Insights for TJX Companies

TotalEnergies SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) shares are trading higher on Friday. The company secured the top spot in Bulgargaz EAD's tender for LNG supply at the <a target="_blank" href="https://www.bulgargaz.bg/en/news/468" rel="noreferrer noopener">Alexandroupolis </a>terminal in Greece for November and December 2024, offering the most competitive terms.
The natural gas distribution company Bulgargaz stated that thirteen international companies showed interest, with six submitting binding offers.
Notably, Bulgargaz had earlier announced tenders for five LNG cargoes (5,000,000 MWh), including one for January-February 2025.
The first tender, covering October, closed in September, and 1,000,000 MWh of LNG from Norway has already been delivered. The company will select the supplier for the January-February tender by mid-November.
This week, TotalEnergies inked mid-term LNG supply deal with Santos for <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41137234/totalenergies-inks-lng-supply-contract-with-santos-details?_gl=1&#x2A;10cq7vj&#x2A;_gcl_au&#x2A;MjQ1NzUxNTg2LjE3MjY0MTU3OTU.&#x2A;_ga&#x2A;MTEwODYyMDc3MS4xNzI2NDE1Nzk1&#x2A;_ga_V7ZK73W7N0&#x2A;MTcyODA0NzM3OC4zMy4xLjE3MjgwNTY2NTguMC4wLjA." rel="noreferrer noopener">20 cargoes annually, starting Q4 2025</a>.
Yesterday, the company stated that it expects Oil &amp; Gas production growth of about&nbsp;3%&nbsp;annually through 2030, driven by LNG, with six major projects launching in 2024 across Brazil, <a target="_blank" href="https://www.benzinga.com//node/41147964" rel="noreferrer noopener">Suriname, Angola, Oman, and Nigeria</a>.
Investors can gain exposure to the stock via&nbsp;Advisor Managed Portfolios Miller Value Partners Appreciation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MVPA#NYSE">MVPA</a>) and&nbsp;Octane All-Cap Value Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCTA#NASDAQ">OCTA</a>).
Price Action: TTE shares are up 1.47% at $68.88 at the last check Friday.
Read Next:
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<li><a href="https://www.benzinga.com//node/41050216" target="_blank" rel="noreferrer noopener">Shell, TotalEnergies, Equinor Complete Carbon Storage Project: Exec Says Joint Venture Plays &#8216;Vital&#8217; Environmental Role</a></li>
</ul>

Equities

Large Cap

Movers

MVPA

OCTA

Why TotalEnergies Shares Are Surging Today

Jefferies analyst Daniel Fannon maintains Interactive Brokers Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>) with a Buy and raises the price target from $152 to $165.

IBKR

Jefferies Maintains Buy on Interactive Brokers Gr, Raises Price Target to $165

Piper Sandler analyst Peter Keith maintains Ollie's Bargain Outlet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>) with a Overweight and maintains $107 price target.

OLLI

Piper Sandler Maintains Overweight on Ollie's Bargain Outlet, Maintains $107 Price Target

On Friday, Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) announced discontinuing the Phase 2 field study evaluating the efficacy of investigational antiviral candidate mosnodenvir to prevent dengue virus in adults aged 18-65.
The <a target="_blank" href="https://www.jnj.com/media-center/press-releases/johnson-johnson-to-discontinue-phase-2-field-study-evaluating-investigational-antiviral-for-the-prevention-of-dengue" rel="noreferrer noopener">decision</a> to discontinue this study is part of a strategic reprioritization of the company&#8217;s Communicable Diseases research and development (R&amp;D) portfolio. No safety issues were identified.
Efficacy data from the Phase 2 field study will be available once the final data analyses, which are now underway, are complete.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41143856/johnson-johnsons-erleada-shows-improved-overall-survival-in-prostate-cancer-patients-compared-to-" rel="noreferrer noopener">Johnson &amp; Johnson&#8217;s Erleada Shows Improved Overall Survival In Prostate Cancer Patients Compared To Pfizer&#8217;s Drug</a>.
Mosnodenvir (formerly JNJ-1802) was shown to be safe and well tolerated in previous Phase 1 and Phase 2a clinical studies.
In October 2023, results from the Phase 2a human challenge study found that the compound induced antiviral activity against dengue (DENV-3) in humans, compared to placebo.
The study <a target="_blank" href="https://www.jnj.com/media-center/press-releases/janssen-announces-promising-antiviral-activity-against-dengue-in-a-phase-2a-human-challenge-model" rel="noreferrer noopener">evaluated</a> different dosing regimens – low, medium or high – of JNJ-1802 against an attenuated dengue 3 serotype (DENV-3) in healthy adults.
All participants received daily doses of JNJ-1802 or a placebo over 26 days, during which they were challenged with DENV-3 on day 5.
All participants were monitored over 85 days. The study found a dose-dependent antiviral effect on the detectability of DENV-3 RNA and time to first onset of detectable DENV-3 RNA compared to placebo and was safe and well-tolerated.
In May, Takeda Pharmaceutical Co Ltd&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAK#NYSE">TAK</a>) dengue vaccine&nbsp;received World Health Organization&#8217;s (WHO) prequalification.&nbsp;
TAK-003 is the second dengue vaccine to&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/04/31935884/united-nations-specialized-agency-in-preliminary-talks-with-takeda-for-dengue-vaccine-currently-u" rel="noreferrer noopener">be prequalified by WHO</a>.&nbsp;
WHO recommended using TAK-003 in children aged 6–16 in settings with high dengue burden <a target="_blank" href="https://www.benzinga.com/general/biotech/24/05/38853309/takedas-dengue-vaccine-gets-who-approval-eligible-for-un-procurement" rel="noreferrer noopener">and transmission intensity</a>.&nbsp;
Price Action: JNJ stock is down 0.60% at $159.53 at the last check on Friday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41187920/lucid-air-electric-vehicles-join-blink-chargings-envoy-program-details" target="_blank" rel="noreferrer noopener">Lucid Air Electric Vehicles Join Blink Charging&#8217;s Envoy Program: Details</a>.</li>
</ul>
Photo via Shutterstock

Biotech

Health Care

General

Johnson & Johnson Ends Phase 2 Study For Dengue Antiviral Amid R&D Reprioritization

Retirement is a huge milestoneand one of the biggest questions people face is whether they have enough saved up to live comfortably.&nbsp;
If you've <a href="https://www.benzinga.com/personal-finance/24/10/41127976/are-you-a-rich-retiree-heres-the-net-worth-and-income-you-need-to-be-in-the-top-10">managed to save $1.2 million</a> by 62, you're probably wondering if that's enough to carry you through your retirement years. But even more importantly, will this nest egg allow you to live a stress-free life financially? The answer depends on your spending habits, healthand how long you expect to live.&nbsp;
Don't Miss:
<ul>
<li><a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.</li>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/red-ventures"> The percentage may shock you</a>.</li>
</ul>
A Hypothetical Scenario
Suppose you're 62, still workingand plan to retire soon with $1.2 million in the bank. According to the Bureau of Labor Statistics, the average household led by someone 65 or older spends about $52,141 per year. This works out to a little over $4,345 monthly in living expenses. With that as a baseline, the question becomes: will your $1.2 million last?
How the 4% Rule Fits In
One common strategy retirees use is the 4% rule, which suggests withdrawing 4% of your retirement savings each year. Based on this rule, $1.2 million would give you about $48,000 per year or $4,000 per month. That's close to the average retirement spending but doesn't leave much wiggle room for extras.
Trending: Founder of Personal Capital and ex-CEO of PayPal<a href="https://www.benzinga.com/money/evergreen-money"> re-engineers traditional banking with this new high-yield account — start saving better today.</a>
Adding in Social Security
Don't forget about Social Security. The average monthly benefit for retired workers in 2024 is $1,919.40. Combining that with the $4,000 from your 4% withdrawals, your total income could be around $71,033 per year – putting you above the average retiree spending. Of course, your actual Social Security benefits will depend on factors like when you start claiming them and your work history. If you <a href="https://www.benzinga.com/personal-finance/24/05/39064579/suze-orman-says-70-is-the-new-retirement-age-but-is-she-right">delay taking Social Security until age 70</a>, you could even boost those benefits.
Trending: <a href="https://www.benzinga.com/money/irs-finalizes-10-year-rule-adv">IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making Things &#8216;Even More Insanely Complicated&#8217;</a>
Health Care Costs to Consider
Health care is one of the biggest wild cards in retirement. Fidelity estimates that a 65-year-old couple retiring in 2024 will spend around $165,000 on medical expenses over their retirement years. That's about $3,300 a year per person, a cost you must factor in. If you're healthy, this might not be a big concern, but if you have health issues, it could become a larger part of your budget.
The Impact of Inflation and Longevity
Another key factor is inflation. Historically, inflation has <a href="https://www.benzinga.com/personal-finance/24/05/38845785/living-on-edge-nearly-90-of-retirees-worried-inflation-will-eat-away-savings">averaged around 2.5% per year</a>. Over 20 or 30 years in retirement, this can eat into the purchasing power of your savings. Plus, people are living longer. Life expectancy for someone 62 today stretches well into their 80sand many live even longer. The longer you live, the more you'll need to stretch your retirement savings.
Trending: A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a>
Does $1.2 Million Provide Enough Cushion?
So, does $1.2 million give you enough of a cushion? For many, it does. Your savings and Social Security income could comfortably cover your living expenses. However, there are a few things that could change that picture:
<ul>
<li>Where You Live: If you live in an area with a high cost of living, your $1.2 million may not go as far.</li>
</ul>
<ul>
<li>Your Lifestyle: Some retirees like to travel or spend more on hobbies, which could increase your spending.</li>
</ul>
<ul>
<li>Health Care Costs: Unexpected medical bills could dent your savings, especially as you age.</li>
</ul>
<ul>
<li>Investment Returns: If your investments perform poorly, your savings may not last as long as you hoped.</li>
</ul>
While $1.2 million is a strong starting point, your unique circumstances depend on whether it's enough for a completely stress-free retirement.&nbsp;
You should be in a good position if you keep your spending in check, factor in Social Securityand plan for potential medical expenses. However, it's always a good idea to <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">chat with a financial advisor</a> to create a plan personalized to your needs, just to ensure you're fully covered for the years ahead.
Read Next:
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<li>One trailblazing female with an expertise in renewable energy built a company that's bringing the EV revolution to disadvantaged communities —<a href="https://www.benzinga.com/money/dunamis-1"> here&#8217;s how you can invest at just $500</a></li>
<li>Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a></li>
</ul>

Personal Finance

I'm 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?

B of A Securities analyst Vivek Arya maintains Coherent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) with a Buy and raises the price target from $90 to $108.

COHR

B of A Securities Maintains Buy on Coherent, Raises Price Target to $108

Trading Ideas

CHSN

Chanson International Shares Halted On Circuit Breaker To The Upside, Stock Now Up 117.1%

WIIM

Vistra shares are trading higher after BMO Capital reiterated an Outperform rating on the stock and raised its price target from $125 to $146.

Blizzard Entertainment has officially confirmed that Diablo 4 will be enhanced for the PS5 Pro, marking the first Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)-owned game to support Sony's $700 mid-generation <a href="https://www.benzinga.com/general/gaming/24/09/41055245/ps5-30th-anniversary-chaos-scalpers-sweep-up-stock-leaving-fans-empty-handed">console upgrade. </a>
<h1 class="wp-block-heading">Diablo 4 Joins PS5 Pro Lineup</h1>
In a tweet, Diablo General Manager Rod Fergusson said: &#8220;I&#8217;m happy to say that Diablo IV and Vessel of Hatred will indeed be PS5 Pro Enhanced! Very proud of our hardworking team to make this happen. More details at a later date.&#8221;
See Also: <a href="https://www.benzinga.com/general/gaming/24/09/41108550/elon-musk-looking-forward-to-diablo-ivs-first-expansion-vessel-of-hatred-as-chief-developer-rod-fe">Elon Musk &#8216;Looking Forward&#8217; To Diablo IV&#8217;s First Expansion, &#8216;Vessel of Hatred,&#8217; As Chief Developer Rod Fergusson Announces Pre-Download Available Starting Today </a>
<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">I&#39;ve been getting this question quite a bit recently and I&#39;m happy to say that Diablo IV and Vessel of Hatred will indeed be PS5 Pro Enhanced! Very proud of our hardworking team to make this happen. More details at a later date. <a href="https://t.co/rvtUgmu6Ie">https://t.co/rvtUgmu6Ie</a>
&mdash; Rod Fergusson (@RodFergusson) <a href="https://twitter.com/RodFergusson/status/1841960958672928893?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The PS5 Pro, set for release on Nov. 7, offers a range of enhancements, including AI-powered upscaling through PlayStation Spectral Super Resolution (PSSR), designed to boost image clarity and overall gaming performance. 
This means players will likely experience smoother frame rates, sharper visuals, and potentially faster load times. Exact details regarding Diablo 4's performance improvements remain under wraps until Blizzard provides more information.
<h1 class="wp-block-heading">Blizzard's Future On PS5 Pro</h1>
Diablo 4 is the first Activision Blizzard title under Microsoft's ownership to be confirmed for PS5 Pro enhancement, but it may not be the last. 
With Microsoft's $69 billion acquisition of Activision Blizzard finalized in 2023, fans are particularly curious about the Call of Duty series, with Black Ops 6 being of special interest for PS5 Pro support. 
Meanwhile, Diablo 4 remains available through Microsoft's Game Pass service, though it&#8217;s notably absent from the platform&#8217;s Standard tier. 
Players are now waiting to see how the expansion Vessel of Hatred will tie into these developments, with the expansion poised to expand the already vast world of Diablo 4.
<h1 class="wp-block-heading">Growing List Of PS5 Pro Enhanced Games</h1>
Some of the confirmed games for PS5Pro include Alan Wake 2, Assassin&#8217;s Creed: Shadows, Demon&#8217;s Souls, Dragon&#8217;s Dogma 2, Final Fantasy 7 Rebirth, and Gran Turismo 7. 
These titles are labeled within the PlayStation Store as PS5 Pro Enhanced, making them easily identifiable for players seeking the best performance.
Read Next:
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<li><a href="https://www.benzinga.com/general/gaming/24/09/40886670/blizzards-diablo-4-generates-150m-from-microtransactions-contributing-to-over-1b-in-sales">Blizzard&#8217;s Diablo 4 Generates $150M From Microtransactions, Contributing To Over $1B In Sales</a></li>
</ul>

Gaming

MSFT

Diablo 4: First Microsoft Game Confirmed To Be Enhanced For PS5 Pro

American International Group shares are trading higher after BMO Capital maintained an Outperform rating on the stock and raised its price target from $87 to $90.

MUFG

SMFG

Shares of Japanese banking companies are trading higher. Japanese Prime Minister Shigeru Ishiba told ministers to compile a stimulus package.

Macro Economic Events

Politics

Economics

Vice President Harris Will Meet With A Small Group Of Arab American Leaders In Flint, Michigan On Friday; VP Harris Will Meet Leaders From The Muslim Advocacy Group Emgage, The American Task Force For Lebanon And Hala Hijazi, Who Lost Dozens Of Family Members In Gaza

New Fortress Energy shares are trading higher after the company announced its CEO made a $50 million stock purchase.

IREN

Iris Energy shares are trading higher after the company announced it mined 347 Bitcoin in September.

Invesco (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ivz#NYSE">IVZ</a>) remains well-positioned for growth on the back of diversified offerings, efforts to enhance operating efficiency and solid assets under management balance. However, a high intangible assets composition on the balance sheet and subdued revenue performance are major headwinds.
<h2>Invesco&#39;s Catalysts</h2>
Invesco has been recording steady improvement in the AUM balance. The metric witnessed a compound annual growth rate (CAGR) of 12.3% over the five years ended 2023. The OppenheimerFunds acquisition in 2019 led to a significant rise in the company&#39;s AUM, turning it into one of the leading global asset managers. Invesco has been capitalizing on the rising demand for passive offerings, which constituted 42% of total AUM as of June 30, 2024, up from 34% in the corresponding period of 2023.
<img alt="Invesco Ltd." src="https://staticx-tuner.zacks.com/images/articles/charts/39/80375.jpg?v=159979789" />
Image Source: Invesco Ltd.
IVZ has been executing initiatives to enhance operating efficiency. The company surpassed its goal for net cost synergies from the OppenheimerFunds acquisition and achieved $200 million in annualized net savings before the planned schedule. While adjusted operating expenses experienced a 2.2% rise in 2023, the trend reversed in the first six months of 2024. The company aims to generate $60 million in annual net savings this year as part of the organizational changes.
Further, Invesco holds a strong footprint in Europe, Canada and the Asia-Pacific, besides the United States. As of June 30, 2024, roughly 28% of the total AUM was from clients residing outside the United States. The acquisitions of Intelliflo, a leading U.K.-based advisor-focused digital solutions firm, and Europe-based Source, a leading independent specialist provider of ETFs, helped the company enhancing global market share and footprint. Such strategic pursuits, as well as diversified offerings, are likely to support the company in generating further momentum from business in such regions.
<h2>Factors That Weigh on Invesco</h2>
Invesco&#39;s subdued top-line expansion is a major concern. Though total operating revenues grew in the first half of 2024, the metric has been experiencing a downtrend since the second half of 2020. Despite having a robust institutional pipeline, diversified product offerings, alternative investment strategies and strong retail channels, revenues are likely to remain subdued in the near term due to a challenging operating backdrop.
A substantial amount of intangible assets in the IVZ&#39;s balance sheet is another major challenge, as these are subject to an annual review. As of June 30, 2024, goodwill and intangible assets amounted to $14.4 billion (53.1% of Invesco&#39;s total assets). Several factors may trigger the initiation of impairment of the book value of such assets, due to which their values will be written down. This is expected to negatively impact the company&#39;s financials. In 2023, amortization and impairment of intangible assets-related charges hampered the company&#39;s profitability, resulting in a net loss.
Invesco currently carries a Zacks Rank #3 (Hold). Over the past three months, shares of the company have risen 17.1%, outperforming the industry&#39;s growth of 15.8%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f5/80377.jpg?v=873665951" />
Image Source: Zacks Investment Research
<h2>IVZ&#39;s Peers Worth Considering</h2>
Some better-ranked asset managers worth a look are Ameriprise (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amp#NYSE">AMP</a>) and SEI Investments (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/seic#NASDAQ">SEIC</a>), carrying a Zacks Rank #2 (Buy).
Estimates for AMP&#39;s current-year earnings have been revised marginally upward in the past week. Ameriprise&#39;s shares have rallied 11% over the past three months.
Estimates for SEIC&#39;s current-year earnings have been revised slightly north in the past seven days. Shares of SEI Investments have gained 6.7% over the past three months.
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