Latest News for ASICS Stock (OTC:ASCCY)

ASICS Corp is a Japanese manufacturer and distributor of sporting goods. The company organises itself across three business domains: athletic sports, sports lifestyle, and health/comfort. Athletic sports provide equipment for running, Asics' core business; training; tennis; and rugby. Sports lifestyle includes fashion and lifestyle apparel and footwear. Health/comfort includes casual leather shoes, safety shoes, and nursing care facilities. The company reports results for three segments: sports shoes, sportswear, and sports equipment. The sports shoes segment contributes to the vast majority of consolidated revenue. Geographically, sales made domestically, across the Americas, and in EMEA contribute significantly to revenue, and collectively constitute the vast majority of sales.

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JPY/USD is higher amid speculation of Japanese government intervention to support the yen.

DA Davidson analyst Tom White maintains eXp World Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>) with a Underperform and maintains $11.75 price target.

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EXPI

DA Davidson Maintains Underperform on eXp World Holdings, Maintains $11.75 Price Target

iShares MSCI Hong Kong Index Fund is higher amid broader strength in Asia-Pacific stocks.

iShares MSCI Japan Index Fund is trading higher mid strength in global markets following Wednesday's Fed decision. Additionally, the yen is higher on speculation of government intervention to support the currency.

EF Hutton analyst Tim Moore downgrades MISTRAS Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MG#NYSE">MG</a>) from Buy to Hold and lowers the price target from $12 to $11.

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EF Hutton Downgrades MISTRAS Group to Hold, Lowers Price Target to $11

Deep-pocketed investors have adopted a bearish approach towards Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DVN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 44 extraordinary options activities for Devon Energy. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 27% leaning bullish and 63% bearish. Among these notable options, 40 are puts, totaling $1,596,366, and 4 are calls, amounting to $237,877.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $47.5 and $57.5 for Devon Energy, 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 Devon Energy'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 Devon Energy's whale trades within a strike price range from $47.5 to $57.5 in the last 30 days. 
<h3>Devon Energy Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714675657_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</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>DVN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$7.85</td>
<td>$5.0</td>
<td>$6.1</td>
<td>$47.50</td>
<td>$97.6K</td>
<td>13.1K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$7.15</td>
<td>$7.1</td>
<td>$7.1</td>
<td>$55.00</td>
<td>$72.4K</td>
<td>1.1K</td>
<td style="text-align: right;">997</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$7.05</td>
<td>$6.95</td>
<td>$7.05</td>
<td>$55.00</td>
<td>$71.9K</td>
<td>1.1K</td>
<td style="text-align: right;">743</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$7.15</td>
<td>$6.95</td>
<td>$7.15</td>
<td>$55.00</td>
<td>$71.5K</td>
<td>1.1K</td>
<td style="text-align: right;">447</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$7.1</td>
<td>$7.05</td>
<td>$7.1</td>
<td>$55.00</td>
<td>$71.0K</td>
<td>1.1K</td>
<td style="text-align: right;">742</td>
</tr>
</tbody>
</table>

<h3>About Devon Energy</h3>
Devon Energy, based in Oklahoma City, is one of the largest independent exploration and production companies in North America. The firm's asset base is spread throughout onshore North America and includes exposure to the Delaware, STACK, Eagle Ford, Powder River Basin, and Bakken plays. At year-end 2023, net production totaled roughly 658 thousand boe/d, of which oil and natural gas liquids made up roughly three-quarters of production, with natural gas accounting for the remainder.
<h3>Devon Energy's Current Market Status</h3>
<ul>
<li>With a trading volume of 9,169,207, the price of DVN is down by -0.12%, reaching $50.34.</li>
<li>Current RSI values indicate that the stock is may be approaching oversold.</li>
<li>Next earnings report is scheduled for 89 days from now.</li>
</ul>
<h3>What The Experts Say On Devon Energy</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $65.2.
<ul>
<li>Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Devon Energy, targeting a price of $66. </li>
<li>An analyst from Susquehanna persists with their Positive rating on Devon Energy, maintaining a target price of $65. </li>
<li>An analyst from Stifel has decided to maintain their Buy rating on Devon Energy, which currently sits at a price target of $66. </li>
<li>Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Devon Energy, targeting a price of $60. </li>
<li>An analyst from Truist Securities has decided to maintain their Buy rating on Devon Energy, which currently sits at a price target of $69. </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 Devon Energy, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Markets

Spotlight on Devon Energy: Analyzing the Surge in Options Activity

Financial giants have made a conspicuous bullish move on Texas Instruments. Our analysis of options history for Texas Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) revealed 9 unusual trades.
Delving into the details, we found 55% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $200,945, and 4 were calls, valued at $117,080.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $170.0 to $185.0 for Texas Instruments during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Texas Instruments's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Texas Instruments's significant trades, within a strike price range of $170.0 to $185.0, over the past month.
<h3>Texas Instruments Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714675651_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</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>TXN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$18.45</td>
<td>$18.1</td>
<td>$18.3</td>
<td>$185.00</td>
<td>$54.9K</td>
<td>1.8K</td>
<td style="text-align: right;">30</td>
</tr>
<tr>
<td>TXN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$7.75</td>
<td>$7.15</td>
<td>$7.75</td>
<td>$180.00</td>
<td>$54.2K</td>
<td>853</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>TXN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/10/24</td>
<td>$6.25</td>
<td>$6.1</td>
<td>$6.2</td>
<td>$170.00</td>
<td>$33.4K</td>
<td>209</td>
<td style="text-align: right;">172</td>
</tr>
<tr>
<td>TXN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/10/24</td>
<td>$6.8</td>
<td>$6.35</td>
<td>$6.48</td>
<td>$180.00</td>
<td>$32.4K</td>
<td>77</td>
<td style="text-align: right;">100</td>
</tr>
<tr>
<td>TXN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/10/24</td>
<td>$6.55</td>
<td>$5.95</td>
<td>$6.37</td>
<td>$180.00</td>
<td>$31.8K</td>
<td>77</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>

<h3>About Texas Instruments</h3>
Dallas-based Texas Instruments generates over 95% of its revenue from semiconductors and the remainder from its well-known calculators. Texas Instruments is the world's largest maker of analog chips, which are used to process real-world signals such as sound and power. Texas Instruments also has a leading market share position in processors and microcontrollers used in a wide variety of electronics applications.
Having examined the options trading patterns of Texas Instruments, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of Texas Instruments</h3>
<ul>
<li>Currently trading with a volume of 2,277,114, the TXN's price is up by 0.59%, now at $176.23. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 82 days.</li>
</ul>
<h3>Professional Analyst Ratings for Texas Instruments</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $190.4.
<ul>
<li>An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $180. </li>
<li>An analyst from TD Cowen persists with their Hold rating on Texas Instruments, maintaining a target price of $175. </li>
<li>An analyst from Susquehanna persists with their Positive rating on Texas Instruments, maintaining a target price of $205. </li>
<li>Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Texas Instruments with a target price of $167. </li>
<li>An analyst from Evercore ISI Group persists with their Outperform rating on Texas Instruments, maintaining a target price of $225. </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 Texas Instruments, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

A Closer Look at Texas Instruments's Options Market Dynamics

Financial giants have made a conspicuous bullish move on XPO. Our analysis of options history for XPO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) revealed 12 unusual trades.
Delving into the details, we found 66% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $180,061, and 7 were calls, valued at $1,769,681.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $95.0 to $120.0 for XPO during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for XPO options trades today is 1541.14 with a total volume of 19,113.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for XPO's big money trades within a strike price range of $95.0 to $120.0 over the last 30 days.
<h3>XPO 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714675646_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</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>XPO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/17/24</td>
<td>$5.8</td>
<td>$5.6</td>
<td>$5.65</td>
<td>$110.00</td>
<td>$1.0M</td>
<td>2.1K</td>
<td>1.8K</td>
</tr>
<tr>
<td>XPO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$2.7</td>
<td>$2.5</td>
<td>$2.5</td>
<td>$120.00</td>
<td>$473.7K</td>
<td>1.3K</td>
<td>1.8K</td>
</tr>
<tr>
<td>XPO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$13.9</td>
<td>$13.6</td>
<td>$13.9</td>
<td>$100.00</td>
<td>$69.5K</td>
<td>418</td>
<td>0</td>
</tr>
<tr>
<td>XPO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$6.7</td>
<td>$6.6</td>
<td>$6.7</td>
<td>$110.00</td>
<td>$50.2K</td>
<td>2.1K</td>
<td>2.4K</td>
</tr>
<tr>
<td>XPO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$6.1</td>
<td>$6.0</td>
<td>$6.1</td>
<td>$110.00</td>
<td>$48.1K</td>
<td>2.1K</td>
<td>2.1K</td>
</tr>
</tbody>
</table>

<h3>About XPO</h3>
Following the spinoff of its contract logistics division (GXO) in 2021 and freight brokerage operations (RXO) in 2022, XPO is moving closer to becoming a pure-play asset-based less-than-truckload carrier. On a pro forma basis for the November RXO spinoff, We estimate LTL shipping now makes up 60% of total revenue, with XPO's European truckload and LTL operations making up 40%. That said, XPO's LTL segment EBITDA mix is much higher than 60%. We believe XPO intends to divest its European trucking division once it finds the right buyer.
Having examined the options trading patterns of XPO, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Present Market Standing of XPO</h3>
<ul>
<li>With a trading volume of 1,551,412, the price of XPO is up by 2.83%, reaching $109.39.</li>
<li>Current RSI values indicate that the stock is may be approaching oversold.</li>
<li>Next earnings report is scheduled for 1 days from now.</li>
</ul>
<h3>Expert Opinions on XPO</h3>
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $141.0.
<ul>
<li>An analyst from Benchmark persists with their Buy rating on XPO, maintaining a target price of $140. </li>
<li>Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on XPO with a target price of $140. </li>
<li>Maintaining their stance, an analyst from Raymond James continues to hold a Outperform rating for XPO, targeting a price of $145. </li>
<li>Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for XPO, targeting a price of $139. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest XPO options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Market Whales and Their Recent Bets on XPO Options

Sony Group Corp.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) PlayStation Plus members are in for a treat starting May 7 with an expanded <a href="https://blog.playstation.com/2024/05/01/playstation-plus-monthly-games-for-may-ea-sports-fc-24-ghostrunner-2-tunic-destiny-2-lightfall/">lineup</a> featuring four exciting titles to enrich their gaming libraries. 
Here&#8217;s <a href="https://www.benzinga.com/general/gaming">what&#8217;s in store:</a>
<ol>
<li>EA Sports FC 24: Immerse yourself in the future of football with unparalleled realism. Featuring over 19,000 fully licensed players, 700 teams, and 30 leagues, including the UEFA Champions League, EA Sports FC 24 delivers an authentic football experience like never before.</li>
<li>Ghostrunner 2: Dive into a post-apocalyptic cyberpunk world where every encounter is a one-hit kill scenario. With improved combat mechanics, non-linear levels, and new modes, navigate through intense challenges and face unique foes in this adrenaline-pumping first-person adventure.</li>
<li>Tunic: Embark on a stylish isometric adventure through a hostile and interconnected world filled with mysteries and dangers. Master technical combat as you clash with colossal beasts and unearth hidden treasures while unraveling the secrets of Tunic&#8217;s captivating universe.</li>
<li>Destiny 2: Lightfall: Join Guardians on a journey to Neptune to uncover a neon metropolis and confront new threats. Arm yourself with new rewards and harness the power of the new Strand subclass to navigate the technologically advanced city and defeat the Shadow Legion.</li>
</ol>
See Also: <a href="https://www.benzinga.com/general/gaming/24/04/38506802/id-xbox-april-2024-all-the-must-play-games-from-xboxs-indie-game-showcase">ID@Xbox April 2024: All The Must-Play Games From Xbox&#8217;s Indie Game Showcase</a>
Additionally, PlayStation Plus members can kickstart their Football Ultimate Team experience with the EA Sports FC 24 Ultimate Team Starter Pack, featuring 11 untradeable players rated 82 or above and an ICON Loan Player Pick for seven games.
Don&#8217;t forget to grab April&#8217;s games, including Immortals of Aveum, Minecraft Legends, and Skul: The Hero Slayer, before they rotate out on May 6. 
Read Next: <a href="https://www.benzinga.com/general/gaming/24/04/38535810/starfields-shattered-space-expansion-set-for-fall-release-more-updates-on-the-way">Starfield&#8217;s Shattered Space Expansion Set For Fall Release, More Updates On The Way</a>
Image courtesy of PlayStation.

Gaming

SONY

All The Games Announced For May's PlayStation Plus: EA Sports FC 24, Ghostrunner 2, More

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite surging over 200 points on Thursday.
The Dow traded up 0.87% to 38,234.10 while the NASDAQ rose 1.45% to 15,832.17. The S&amp;P 500 also rose, gaining, 0.90% to 5,063.69.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38582499/top-4-defensive-stocks-youll-regret-missing-this-quarter">Top 4 Defensive Stocks You&#8217;ll Regret Missing This Quarter</a>
Leading and Lagging Sectors Information technology shares rose by 1.1% on Thursday.
In trading on Thursday, materials shares fell by 0.8%.
Top Headline
Dentsply Sirona Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XRAY#NASDAQ">XRAY</a>) shares fell around 5% on Thursday after reporting first-quarter results.
The company reported adjusted earnings per share of 42 cents, in line with the street view. Quarterly revenues of $953 million missed the street view of $969.136 million.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Aspen Aerogels, Inc.. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>) shares shot up 52% to $23.11 after the company reported better-than-expected first-quarter financial results.</li>
<li>Shares of Emergent BioSolutions Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EBS#NYSE">EBS</a>) got a boost, surging 100% to $3.8616 after the company announced operational changes to stabilize its financial position and reported first-quarter financial results.</li>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) shares were also up, gaining 30% to $112.98 after the company reported upbeat sales for the first quarter.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Fastly, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSLY#NYSE">FSLY</a>) shares dropped 34% to $8.49 after the company reported first-quarter financial results.</li>
<li>Shares of Vestis Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSTS#NYSE">VSTS</a>) were down 40% to $11.07 after the company reported worse-than-expected second-quarter results and lowered its fiscal 2024 outlook.</li>
<li>XPEL, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XPEL#NASDAQ">XPEL</a>) was down, falling 33% to $36.31 after the company reported worse-than-expected first-quarter financial results and slashed its annual revenue growth projection.</li>
</ul>
Also Check This Out: <a href="https://www.benzinga.com/news/24/05/38582620/jim-cramer-this-pc-maker-is-a-good-stock-to-own-okta-is-terrific">Jim Cramer: This PC Maker Is A &#8216;Good Stock To Own&#8217;, Okta Is &#8216;Terrific&#8217; </a>
Commodities In commodity news, oil traded down 0.1% to $78.94 while gold traded up 0.2% at $2,316.20.
Silver traded up 0.3% to $26.83 on Thursday, while copper fell 1.3% to $4.4850.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 fell 0.22%, Germany's DAX fell 0.20% and France's CAC 40 fell 0.88%. Spain's IBEX 35 Index gained 0.16%, while London's FTSE 100 rose 0.63%.
The HCOB Eurozone manufacturing PMI edged higher to 45.7 in April versus the preliminary reading of 45.6. Germany's manufacturing PMI climbed to 42.5 in April from 41.9 in the prior month, while French manufacturing PMI declined to 45.3 in April versus 46.2 in March.
Asia Pacific Markets
Asian markets closed mostly higher on Wednesday, with Japan's Nikkei 225 falling 0.10%, Hong Kong's Hang Seng Index jumping 2.5% and S&amp;P BSE Sensex gaining 0.17%.
Hong Kong's economy grew 2.7% year-over-year in the first quarter compared to a 4.3% increase in the prior period, while the Hong Kong Monetary Authority kept its base rate unchanged at 5.75%.
The HSBC India manufacturing PMI was revised lower to 58.8 in April compared to preliminary reading of 59.1. The consumer confidence index for Japan fell to 38.3 in April versus 39.5 a month ago.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Economics
<ul>
<li>The trade deficit in the US narrowed slightly to $69.4 billion in March versus a revised $69.5 billion gap in February.</li>
<li>Exports of goods and services fell by $5.3 billion to $257.6 billion in March, while imports into the US fell by 1.6% to $327 billion.</li>
<li>U.S. initial jobless claims came in unchanged from the previous week at 208,000 during the week ending April 27, compared to market expectations of 212,000.</li>
<li>Unit labor costs in the U.S. nonfarm business sector rose an annualized 4.7%, while nonfarm business sector labor productivity increased by 0.3% in the first quarter.</li>
<li>U.S. factory orders increased by 1.6% from the prior month to $584.5 billion in March.</li>
<li>U.S. natural-gas supplies increased 59 billion cubic feet during the week ended April 26.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38582505/wall-streets-most-accurate-analysts-say-buy-these-3-utilities-stocks-with-over-3-dividen">Wall Street&#8217;s Most Accurate Analysts Say Buy These 3 Utilities Stocks With Over 3% Dividend Yields</a>

Earnings

Eurozone

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Intraday Update

Trading Ideas

ASPN

CVNA

FSLY

VSTS

XPEL

XRAY

Nasdaq Gains Over 200 Points; Dentsply Sirona Shares Fall After Q1 Results

Traders often forget about the capital gains taxes they owe on trading profits throughout the year.&nbsp;
But even if they did forget, nearly all of them still pay the taxes on what they've earned. Most will pay them without trouble, but some will refuse to pay capital gains taxes. Roger Ver, also known as "Bitcoin Jesus," is one of the traders who refused to pay taxes on his Bitcoin (BTC) gains, which resulted in legal trouble.
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<li>How much Bitcoin did Michael Saylor says you need to become a millionaire?<a href="https://www.benzinga.com/money/1milbitcoin-adv"> The number may shock you.</a></li>
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Ver started buying Bitcoin in 2011. By early 2014, Ver and his companies had allegedly acquired 131,000 BTC. At the time, the price of Bitcoin was around $800, so the position was worth around $100 million. Also in 2014, Ver obtained citizenship in St. Kitts and Nevis, a small island country in the Caribbean, and renounced his U.S. citizenship.
"Ver allegedly was required under U.S. law to file tax returns that reported capital gains from the constructive sale of his worldwide assets, including the Bitcoins, and to report the fair market value of his assets. He was also allegedly required to pay a tax — referred to as an ‘exit tax' — on those capital gains," <a href="https://www.justice.gov/opa/pr/early-bitcoin-investor-charged-tax-fraud">according to</a> the U.S. Office of Public Affairs.
Ver hired a law firm and business appraisal firm to help with the process of preparing tax documents but lied to the firms, which resulted in "false tax returns that substantially undervalued the two companies and their 73,000 Bitcoins and did not report that Ver owned any Bitcoins personally," according to the U.S. Office of Public Affairs.&nbsp;
Flash forward to 2017, and "Ver's two companies continued to own approximately 70,000 Bitcoins. Around that time, Ver allegedly took possession of those Bitcoins and in November 2017 sold tens of thousands of them on cryptocurrency exchanges for approximately $240 million in cash," according to the agency.
Ver was legally required to report and pay taxes on certain distributions even though he was not a U.S. citizen. He allegedly concealed from his accountant that he had received and sold Bitcoins and did not report gains or pay taxes on the distributions valued at $240 million.&nbsp;
"In total, Ver is alleged to have caused a loss to the IRS of at least $48 million," the U.S. Office of Public Affairs concluded.&nbsp;
In an <a href="https://twitter.com/rogerkver/status/1783641498501673180?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1783641498501673180%7Ctwgr%5Ed5a4854632e27c64da507e0e267bec8f9a779a44%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.coindesk.com%2Fpolicy%2F2024%2F04%2F30%2Froger-ver-indicted-for-tax-fraud%2F">obscure post on X</a> last week, Ver wrote, "Don&#8217;t expect bad people to do good things."
Read Next:
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<li>1 in 4 Americans own a share of Bitcoin according to NASDAQ,<a href="https://www.benzinga.com/money/kraken"> how much would $10 get you today</a>?</li>
<li>Bitcoin has jumped another 45% already this year &#8211;<a href="https://www.benzinga.com/money/kraken"> how much would you need to get started today?</a></li>
</ul>

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

Cryptocurrency

$BTC

'Bitcoin Jesus' Roger Ver Charged With Tax Fraud: How Much Does He Owe From His Bitcoin Gains?

DA Davidson analyst Linda Bolton Weiser maintains Herbalife (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLF#NYSE">HLF</a>) with a Neutral and maintains $9.5 price target.

DA Davidson Maintains Neutral on Herbalife, Maintains $9.5 Price Target

Securities regulators concluded their investigation into significant investments Barry Diller, Alexander von Furstenberg, and David Geffen made in Activision Blizzard shortly before&nbsp;Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) acquired the company in 2022.&nbsp;
The Securities and Exchange Commission (SEC) and the Justice Department investigated these options purchases for potential insider trading but found no grounds for charges, the Wall Street Journal&nbsp;<a target="_blank" href="https://www.wsj.com/finance/regulation/sec-ends-probe-of-trades-before-activision-microsoft-merger-with-no-action-b13cce7c" rel="noreferrer noopener">reports</a>.&nbsp;
Microsoft completed its $75 billion acquisition of Activision late last year, marking its biggest deal ever, which took nearly two years to overcome numerous global regulatory challenges.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38583285/grand-theft-auto-parent-shuts-two-iconic-game-studios-as-part-of-sweeping-layoffs" rel="noreferrer noopener">Grand Theft Auto Parent Shuts Two Iconic Game Studios as Part of Sweeping Layoffs</a>
Before&nbsp;this acquisition was announced, Barry Diller, Alexander von Furstenberg, and David Geffen made significant investments in Activision Blizzard. They purchased options to buy Activision shares at $40 each, which were already profitable due to the stock trading at about $63.&nbsp;This transaction led to&nbsp;unrealized profits of&nbsp;tens of millions of dollars once Microsoft&#8217;s acquisition was public.
The SEC&nbsp;recently&nbsp;informed Diller, von Furstenberg, and Geffen that it would not pursue accusations of insider trading.&nbsp;
Similarly, a lawyer for Diller mentioned not receiving any further inquiries from the Justice Department since 2022.&nbsp;
Diller defended the trades as &#8220;simply a lucky bet&#8221; and emphasized that they had not acted on any material nonpublic information regarding the Microsoft-Activision deal.
Additionally, federal regulators&#8217; scrutiny affected Diller&#8217;s efforts to obtain a gaming license in Nevada, where he serves on the board of&nbsp;MGM Resorts International&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>).&nbsp;
Meanwhile, analysts cite&nbsp;Microsoft&#8217;s position at the&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37928279/microsofts-iphone-moment-analyst-sees-19-upside-for-tech-giants-stock-as-copilot-ai" rel="noreferrer noopener">forefront of the AI</a>&nbsp;revolution,&nbsp;which&nbsp;is&nbsp;backed&nbsp;by&nbsp;positive findings from AI customer interactions and the emerging monetization of the transformative Copilot.&nbsp;
They mark a pivotal moment for Microsoft, likening it to an &#8216;iPhone Moment&#8217; that could significantly alter Microsoft&#8217;s cloud growth trajectory.
Microsoft stock gained over 29% in the last 12 months. Investors can gain exposure to the stock via&nbsp;SPDR Select Sector Fund &#8211; Technology&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) and&nbsp;Fidelity MSCI Information Technology Index ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTEC#NYSE">FTEC</a>).
Price Actions:&nbsp;Microsoft shares traded higher by 0.74% at $397.87 on&nbsp;the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

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Insider Trades

Tech

Media

FTEC

MSFT

Microsoft's $75B Acquisition of Activision Cleared of Insider Trading Concerns by SEC

Carvana Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) shares are jumping today following yesterday&#8217;s first-quarter FY24 results. Several analysts raised&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/CVNA/analyst-ratings" rel="noreferrer noopener">the price target on the stock</a>.
Carvana reported revenue of $3.061 billion, which beat the&nbsp;consensus estimate&nbsp;of $2.673 billion. The company reported&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38575190/why-carvana-shares-are-jumping-today" rel="noreferrer noopener">adjusted EBITDA of $235 million</a>.
The company anticipates a sequential increase in its year-over-year growth rate in retail units in the second quarter. The company also expects a sequential&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/05/38566697/carvana-stock-jumps-on-q1-earnings-revenue-beat-vehicles-sold-up-16-strong-guidance-and-more" rel="noreferrer noopener">increase in adjusted EBITDA</a>.
Wedbush&nbsp;analyst Seth Basham raised the price target from $80 to $120 while maintaining a&nbsp;Neutral rating.
The analyst writes that the company is better positioned to support growth than in the past, with better technology and processes&nbsp;in place&nbsp;and existing infrastructure to grow into.&nbsp;
The analyst says that at this level of annualized EBITDA, the company can now cover its interest expense on outstanding debt in cash and plans to pay interest in cash on its 2028 and 2030 notes starting in 2025.
Consequently, the analyst now forecasts units sequentially increasing through the year (+24% Y/Y for FY24, up from +16% Y/Y prior) and adjusted EBITDA of $883 million (up from $568 million earlier).&nbsp;
Needham&nbsp;analyst Chris Pierce reiterated the Hold rating and writes that Carvana has regained its position as the apex predator in used auto retailing with an ample runway for further unit growth and is now operating from a position of profitable growth.&nbsp;
The analyst sees increasing flexibility&nbsp;with&nbsp;the company&#8217;s current debt picture, with an option for eventual refinancings, decreasing interest payments&nbsp;and&nbsp;pushing more earnings to&nbsp;bottom&nbsp;line.
Pierce says&nbsp;that they&nbsp;see a natural limit to gross&nbsp;profits,&nbsp;with the&nbsp;company &#8216;competing for inventory from consumers and at auction while having to price similarly to peers at retail given readily available pricing information on aggregator sites.
The analyst expects the customer experience and integrated lending platform to aid Carvana in driving unit growth.
Also,&nbsp;JP Morgan&nbsp;increased the price target on Carvana from $70 to $130. JP Morgan analyst Rajat Gupta upgraded the stock&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38582493/carvana-analysts-increase-their-forecasts-after-strong-sales" rel="noreferrer noopener">from Neutral to Overweight</a>.
&nbsp;Investors can gain exposure to the stock via&nbsp;Global X E-Commerce ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBIZ#NASDAQ">EBIZ</a>) and&nbsp;Amplify ETF Trust Amplify Online Retail ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBUY#NYSE">IBUY</a>).
Price Action: CVNA shares are trading up 32.9% to $115.71 at the last check Thursday. 
Photo via Shutterstock

Equities

Large Cap

Reiteration

EBIZ

IBUY

Carvana's Strong Q1 Performance Attracts Analysts Praise, Stock Soars

Needham analyst Gil Blum reiterates Geron (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GERN#NASDAQ">GERN</a>) with a Buy and maintains $5 price target.

GERN

Needham Reiterates Buy on Geron, Maintains $5 Price Target

Needham analyst Joseph Stringer reiterates Alnylam Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALNY#NASDAQ">ALNY</a>) with a Buy and maintains $200 price target.

ALNY

Needham Reiterates Buy on Alnylam Pharmaceuticals, Maintains $200 Price Target

EF Hutton analyst Tim Moore maintains Enovix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>) with a Buy and maintains $24 price target.

ENVX

EF Hutton Maintains Buy on Enovix, Maintains $24 Price Target

JMP Securities analyst Aaron Hecht reiterates Sun Communities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUI#NYSE">SUI</a>) with a Market Outperform and maintains $150 price target.

JMP Securities Reiterates Market Outperform on Sun Communities, Maintains $150 Price Target

BWS Financial analyst Hamed Khorsand downgrades Netgear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>) from Buy to Neutral and announces $13 price target.

NTGR

BWS Financial Downgrades Netgear to Neutral, Announces $13 Price Target

chocolate and snack foods company Hershey Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) is set to report first-quarter financial results on Friday, May 3, before the <a href="https://www.benzinga.com/calendars/earnings">market opens.</a>
Here are the earnings estimates from analysts and key items to watch for investors.
Earnings Estimates: Analysts expect Hershey to report first-quarter revenue of $3.11 billion, according to <a href="https://www.benzinga.com/pro/feature/newsfeed?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348">data from Benzinga Pro.</a>
Related Link: <a href="https://www.benzinga.com/markets/commodities/24/04/38237838/bad-news-chocolate-and-coffee-lovers-prices-are-only-going-higher">Bad News Chocolate And Coffee Lovers &#8211; Prices Are Only Going Higher</a>
The company reported revenue of $2.99 billion in last year's first quarter. Hershey has beaten analyst estimates for revenue in eight of the last 10 quarters. It missed estimates in two of the last three quarters.
Analysts expect the candy bar maker to report earnings per share of $2.76 for the first quarter, compared to $2.96 reported in last year's first quarter. The company has beaten analysts' estimates for earnings per share in 10 straight quarters.
Hershey's outlook for the full fiscal year sees net sales growth of 2% to 3% and adjusted ESP to be flat at $9.59 from the prior year.
Key Items to Watch: One of the key items to watch in Hershey's financial results and commentary is the rising cost of cocoa and the impact it is having on the company and consumers.
"While historic cocoa prices are expected to limit earnings growth this year, we believe our strong marketing plans, innovation and brand investments will drive top-line growth and meet consumers' evolving needs," CEO Michele Buck said<a href="https://www.benzinga.com/news/earnings/24/02/37012481/hersheys-mixed-bag-stable-q4-earnings-amid-slow-sales-growth-and-rising-cocoa-costs"> earlier this year.</a>
The company <a href="https://www.benzinga.com/media/24/03/37940151/cocoa-cost-crunch-chocolate-giants-hershey-mondelez-reportedly-shift-easter-focus-to-sweeten-profits">focused on non-chocolate items</a> for the Easter holiday and has also shrunk sizes on items to deal with the rising costs, according to reports.
Hershey sees the higher commodity inflation having a bigger impact in the second half of the year. Commentary on this item could be key for analysts and investors.
<h3 class="wp-block-heading">Hershey Vs. Feastables</h3>
Another key item to watch is the competition from YouTube star Jimmy Donaldson, also known as MrBeast. Donaldson launched Feastables as a competing chocolate bar brand to Hershey in 2022.
The brand has a strong presence in key retail stores, has landed help from MrBeast's huge social media following and also<a href="https://www.benzinga.com/news/23/10/35043174/mrbeast-signs-deal-with-nba-team-for-feastables-jersey-sponsorship-here-are-the-details-why-its-impo"> signed a jersey sponsorship</a> with the NBA's Charlotte Hornets.
Feastables could start chipping into the market share Hershey has in chocolate bars.
The Bear Cave <a href="https://www.benzinga.com/news/23/07/33306938/mrbeast-vs-hershey-the-bear-cave-reveals-a-potential-shakeup-in-the-snack-industry">previously issued a short report </a>on Hershey. Feastables&#8217; rise is a key catalyst for a potential fall in the price of Hershey stock.
"While Hershey has customers, Feastsables has fans," Bear Cave author Edwin Dorsey wrote previously.
Donaldson also shared previously that a friend of his was selected for a blind taste test of Hershey's vs. Feastables, suggesting the chocolate giant was exploring the brand's encroachment in the space.
Donaldson responded to the short report saying it "seems lame" to recommend shorting a company, but also hinted that the future could be concerning for Hershey.
"Next few years between Feastables and Hershey's will be interesting once I actually ramp up," Donaldson said.
Hershey isn't likely to name-drop MrBeast or Feastables in their commentary. But investors might be able to get a sense of market share losses or brands seeing pressure in retail.
HSY Price Action: Hershey shares trade at $194.93 versus a 52-week trading range of $178.82 to $276.88. Shares of Hershey are down 30% over the last year.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/02/37394501/is-my-candy-bar-getting-smaller-yes-a-chocolate-crisis-means-smaller-pricier-hersheys">Is My Candy Bar Getting Smaller? Yes, A Chocolate Crisis Means Smaller, Pricier Hershey&#8217;s</a>
Image: Pixabay

Previews

Hershey Q1 Earnings Preview: Will MrBeast's Feastables, Rising Cocoa Prices Hurt Chocolate Company's Results?

Pickleball has become a global phenomenon, with enthusiasts and organizations working to promote and expand the sport's reach. It continues to evolve. So with such growth potential, investors are looking for ways to participate in this industry.

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Latest News for ASICS Stock (OTC:ASCCY)

Tuesday, March 24, 2020

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