Biodesix Stock (NASDAQ:BDSX), Trade Ideas

Biodesix

Biodesix Inc is a diagnostic solutions company with a focus in lung disease. The Company has a single operating segment focused on providing diagnostic testing services to customers. It provides biopharmaceutical companies with services that include diagnostic research, clinical trial testing, and the discovery, development, and commercialization of companion diagnostics. The revenue is derived from two sources, providing diagnostic testing services associated with blood-based lung and Coronavirus Disease 2019 (COVID-19) tests; and providing biopharmaceutical companies with services generally provided outside the clinical setting and governed by individual contracts with third parties as well as development and commercialization of companion diagnostics.

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U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining more than 200 points on Friday.

The Dow traded up 0.89% to 38,941.18 while the NASDAQ rose 1.26% to 16,251.98. The S&amp;P 500 also rose, gaining, 1.10% to 5,203.90.

S&amp;P 500 Gains Over 1%; GCT Semiconductor Shares Spike Higher

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Shares of Byrna Technologies Inc. (NASDAQ: BYRN) rose sharply during Friday’s session after the company reported better-than-expected first-quarter revenue, and announced a CFO transition.

Why Byrna Technologies Shares Are Trading Higher By Around 7%? Here Are Other Stocks Moving In Friday&#39;s Mid-Day Session

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 200 points on Friday.

The Dow traded up 1.01% to 38,987.23 while the NASDAQ rose 1.50% to 16,289.37. The S&amp;P 500 also rose, gaining, 1.29% to 5,213.49.

Gold Surges Over 1%; Biodesix Shares Plummet

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AUD/USD is trading higher as the dollar drops amid a decline in Treasury yields following PMI data. Concerns over Middle East tensions have also eased this week.

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EUR/USD is trading higher as the dollar drops amid a decline in Treasury yields following PMI data. Concerns over Middle East tensions have also eased this week.

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GBP/USD is trading higher as the dollar drops amid a decline in Treasury yields following PMI data. Concerns over Middle East tensions have also eased this week.

<a href="https://www.novartis.com/news/media-releases/novartis-radioligand-therapy-lutathera-fda-approved-first-medicine-specifically-pediatric-patients-gastroenteropancreatic-neuroendocrine-tumors">https://www.novartis.com/news/media-releases/novartis-radioligand-therapy-lutathera-fda-approved-first-medicine-specifically-pediatric-patients-gastroenteropancreatic-neuroendocrine-tumors</a>
<ul>
<li>Approval based on NETTER-P trial in which Lutathera demonstrated a consistent safety profile and comparable drug exposure between pediatric (ages 12-17) and adult patients&nbsp; &nbsp;</li>
<li>Gastroenteropancreatic neuroendocrine tumors (GEP-NETs) are a rare cancer that is often unresectable and commonly diagnosed in the late stages of disease &nbsp;</li>
<li>Novartis, a leader in radioligand therapy (RLT), is investigating a portfolio of RLTs to treat a broad range of cancers, including GEP-NETs, lung, prostate, breast, colon, brain and pancreatic cancers</li>
</ul>

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Novartis Radioligand Therapy Lutathera FDA Approved First Medicine Specifically For Pediatric Patients With Gastroenteropancreatic Neuroendocrine Tumors

<a href="https://www.finance.senate.gov/hearings/hacking-americas-health-care-assessing-the-change-healthcare-cyber-attack-and-whats-next" title="https://www.finance.senate.gov/hearings/hacking-americas-health-care-assessing-the-change-healthcare-cyber-attack-and-whats-next">https://www.finance.senate.gov/hearings/hacking-americas-health-care-assessing-the-change-healthcare-cyber-attack-and-whats-next</a>

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UnitedHealth Group CEO Andrew Witty To Attend United States Senate Committee On Finance Full Committee Hearing "Hacking America's Health Care: Assessing the Change Healthcare Cyber Attack and What's Next" On April 30, 2024.

Philip Morris shares are trading higher following better-than-expected Q1 financial results.

Social media and technology company Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) will report first-quarter financial results after market close <a href="https://www.benzinga.com/calendars/earnings">Wednesday, April 24.</a>
Here are the earnings estimates and what analysts are saying ahead of the report.
Earnings Estimates: Analysts expect Meta Platforms to report first-quarter revenue of $36.16 billion, according to data<a href="https://www.benzinga.com/pro/feature/newsfeed?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348"> from Benzinga Pro.</a>
The company reported revenue of $28.65 billion in last year's first quarter. Meta Platforms has beaten revenue estimates from analysts in six straight quarters.
Guidance <a href="https://www.benzinga.com/news/earnings/24/02/36899267/meta-platforms-q4-earnings-highlights-revenue-beat-eps-beat-companys-first-dividend-and-more">from Meta Platforms</a> for the first quarter calls for revenue to be in a range of $34.5 billion to $37.0 billion.
Analysts expect the company to report earnings per share of $4.32 in the first quarter, compared to $2.20 in last year's first quarter. The company has beaten analysts' estimates for earnings per share in four straight quarters.
Related Link: <a href="https://www.benzinga.com/news/24/01/36790492/zuckerberg-vs-musk-billionaire-battle-sees-meta-platforms-rejoin-1-trillion-market-cap-club-before-t">Zuckerberg Vs. Musk: Billionaire Battle Sees Meta Platforms Rejoin $1 Trillion Market Cap Club Before Tesla</a>
Roth on META: With Meta Platforms shares up 36% year-to-date, Roth analyst Rohit Kulkarni said there are great expectations for the company's earnings report.
The analyst, who had a Buy rating and $500 price target, said buyside expectations could be "overly ambitious" and he remains cautious.
"We are marginally cautious heading into 1Q earnings as '24 quarterly revenue cadence under tougher YoY comps, incremental growth drivers, and impact from European regulations are big unresolved debates among investors," Kulkarni said.
The analyst said investors could be expecting a beat and raise quarter from Meta Platforms with revenue higher than $37 billion and guidance for the second quarter to be announced at around $39.5 billion.
Kulkarni called European regulations an unknown that is tricky to predict currently.
"We will monitor developments closely as early enforcement actions become more apparent over the next couple of months."
The analyst said comps get tougher for Meta Platforms in the second quarter and beyond, which could make the stock returning to all-time highs tough.
Benchmark on META: The impact of China-based advertisers and Reels monetization are key areas of topic for Benchmark analyst Mark Zgutowicz.
The analyst had a Hold rating and no price target on the stock.
"Given China-based advertisers drove nearly 1/3 of Meta's '23 ad growth and our more modest ‘24E contribution, we assume ‘24E core (non-China) ad growth accelerates," Zgutowicz said.
The analyst also highlighted Meta's recent increased artificial intelligence capabilities with version 2 of Meta AI rolled out. This includes posing questions to the AI assistant on WhatsApp and Messenger and providing information on posts and videos on Facebook and Instagram.
"We expect these and other use cases will be elaborated on the call."
The analyst said that the investment in data center and GPU capital could be increased given the new capabilities of artificial intelligence for the company.
JMP on META: The use of artificial intelligence within the Meta family of apps could be the first generative AI experience that some users have, JMP analyst Andrew Boone said.
"Meta is leaning into high user engagement across its family of apps to create an adjacent service with Meta AI, similar to how it launched short-form video with Reels," Boone said.
The analyst, who has a Market Outperform rating and $550 price target, said the large opportunity for Meta "is to take share of search queries." This could lead to more data to use in personalized ads.
Boone said the new AI could lead to Meta being in an investment cycle for data centers and AI talent.
"AI unlocks new areas of engagement, data, and monetization."
The analyst said data from Pew Research from February 2024 showed that 23% of U.S. adults have used ChaGPT, which means Meta's AI tools could be the first time many of its users experience generative AI.
"With AI chats likely more personalized over time as models improve and learn from past interactions, there may be a first mover advantage that Meta can capture."
Boone said the opportunity for Meta is additional searches, which has potential for more monetization.
META Price Action: Meta shares are up 2.88% to $495.02 on Tuesday versus a 52-week trading range of $207.13 to $531.49. Shares of Meta are up over 130% in the last year.
Read Next: <a href="https://www.benzinga.com/general/gaming/24/04/38364762/microsoft-meta-reveal-limited-edition-meta-quest-vr-headset-with-game-pass-bundle">Microsoft, Meta Reveal Limited Edition Meta Quest VR Headset With Game Pass Bundle</a>&#8216;
Photo: Shutterstock

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Meta Platforms Q1 Earnings Preview: 'Marginally Cautious,' AI Opportunity Could Prove 'First Mover Advantage'

KLAC

KLA shares are trading higher after Citigroup maintained a Buy rating on the stock and raised its price target from $700 to $725.

PepsiCo (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>) came out with quarterly earnings of $1.61 per share, beating the Zacks Consensus Estimate of $1.52 per share. This compares to earnings of $1.50 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 5.92%. A quarter ago, it was expected that this food and beverage company would post earnings of $1.72 per share when it actually produced earnings of $1.78, delivering a surprise of 3.49%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
PepsiCo, which belongs to the Zacks Beverages - Soft drinks industry, posted revenues of $18.25 billion for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 0.62%. This compares to year-ago revenues of $17.85 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
PepsiCo shares have added about 3.9% since the beginning of the year versus the S&amp;P 500&#39;s gain of 5.1%.
What&#39;s Next for PepsiCo?
While PepsiCo has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for PepsiCo: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $2.22 on $22.78 billion in revenues for the coming quarter and $8.15 on $94.64 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Beverages - Soft drinks is currently in the top 30% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Coca-Cola (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ko#NYSE">KO</a>), is yet to report results for the quarter ended March 2024. The results are expected to be released on April 30.
This world&#39;s largest beverage maker is expected to post quarterly earnings of $0.69 per share in its upcoming report, which represents a year-over-year change of +1.5%. The consensus EPS estimate for the quarter has been revised 0.1% lower over the last 30 days to the current level.
Coca-Cola&#39;s revenues are expected to be $10.95 billion, down 0.3% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2259777/pepsico-pep-q1-earnings-and-revenues-beat-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2259777">To read this article on Zacks.com click here.</a>

PepsiCo Q1 Earnings And Revenues Beat Estimates

Micron shares are trading higher amid strength in chip stocks. It was also reported the company will invest $100 billion over 20 years in an Upstate New York chip hub.

<a href="https://www.wsj.com/business/deals/ibm-nears-deal-for-cloud-software-provider-cf146448?mod=latest_headlines">https://www.wsj.com/business/deals/ibm-nears-deal-for-cloud-software-provider-cf146448?mod=latest_headlines</a>
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Wall Street Journal Reports "Takeover Could Value HashiCorp At A Premium To Its Market Value Of $4.9 Billion"

HashiCorp shares Halted On Circuit Breaker To The Upside, Stock Now Up 7.41%

In the first quarter of 2024, the cannabis sector faces a mixed economic landscape with a notable sequential decline in sales across several states.
<a href="https://www.benzinga.com/topic/pablo-zuanic">Pablo Zuanic</a>, senior analyst&nbsp;of Zuanic &amp; Associates has detailed insights into the sector&#39;s performance, particularly focusing on multi-state operators (MSOs) and their exposure across pivotal states such as Arizona, Connecticut, Florida, and others.
<h2>Q1 2024 Sector-Wide Financial Highlights</h2>
Overall, Q1 saw a downward trend in sales, except for a few states like Florida and Pennsylvania.
The most significant sales declines were observed in <a href="https://www.benzinga.com/topic/connecticut-cannabis">Connecticut</a> (-6%) and Illinois (-4%), with moderate decreases across <a href="https://www.benzinga.com/topic/massachusetts-cannabis">Massachusetts</a> (-3%), <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35991290/analyst-inside-look-trends-and-opportunities-in-ohios-emerging-recreational-cannabi">Ohio</a> (-2%), and both Michigan and <a href="https://www.benzinga.com/topic/maryland-cannabis">Maryland</a> experiencing a -1% change.
Pennsylvania, by contrast, reported a 3% increase, showing resilience amidst broader sector struggles. Each state showcased unique trends affecting both sales and market dynamics.
<h3>Q1 2024 State-by-State Financial Performance And Leading Companies</h3>
<ul>
<li>California: Faced a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37971495/californias-weed-sales-decline-market-ripe-for-consolidation-biggest-companies-like">6% year-on-year decline</a>, adjusting to a $5 billion market size. Notable MSOs like Cresco Labs (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crlbf#OTC">CRLBF</a>) and Green Thumb Industries (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gtbif#OTC">GTBIF</a>) have scaled back operations, reflecting a <a href="https://www.benzinga.com/topic/california-cannabis">strategic pivot within the state</a>. Other prominent MSOs include TerrAscend (OTC: <a class="ticker" href="https://www.benzinga.com/stock/trssf#OTC">TRSSF</a>) and 4Front Ventures (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ffntf#OTC">FFNTF</a>).</li>
<li>Michigan: A standout in the sector with a robust 24% year-on-year growth, leading to $793 million in sales for the quarter. Despite stable retail prices, the wholesale market has presented challenges with narrower retailer spreads. <a href="https://www.benzinga.com/topic/michigan-cannabis">Leading MSOs in Michigan</a> include Ascend Wellness (OTC: <a class="ticker" href="https://www.benzinga.com/stock/aawh#OTC">AAWH</a>), Cresco Labs, and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37681427/marijuana-company-verano-holdings-worth-2-1b-outprices-its-expected-2024-earnings">Verano Holdings</a> (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vrnof#OTC">VRNOF</a>).</li>
<li>Illinois: While there was a sequential sales dip, the year-on-year figures were up by 6%, hinting at a market still finding its footing with <a href="https://www.benzinga.com/topic/illinois-cannabis">increased retail establishments </a>but facing pricing pressures. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38282615/cannabis-brands-leading-market-expansion-in-east-midwest-a-look-at-prices-and-trend">Dominant players</a> include Cresco Labs, Green Thumb Industries, and Curaleaf Holdings (OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>).</li>
<li>Florida: Displayed growth stability with a slight 1% sequential increase and a 14% rise compared to the previous year. The market benefits from a <a href="https://www.benzinga.com/topic/florida-cannabis">consistent expansion</a> in both retail locations and patient registration, indicating sustained demand. Leading companies are Trulieve Cannabis (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>) and Curaleaf Holdings, with significant market shares.</li>
<li>New Jersey and Nevada: Both states are grappling with market saturation and deflation, although <a href="https://www.benzinga.com/topic/nevada-cannabis">Nevada&rsquo;s</a> tourism boost offers some cushion against declining retail prices. In <a href="https://www.benzinga.com/topic/new-jersey-cannabis">New Jersey</a>, key operators include Curaleaf Holdings and Green Thumb Industries. In Nevada, the market is led by companies like Planet 13 Holdings (OTC: <a class="ticker" href="https://www.benzinga.com/stock/plnhf#OTC">PLNHF</a>) and Curaleaf Holdings, both benefiting from the tourist influx in Las Vegas.</li>
</ul>
<h3>Q1 2024 Operational Insights And MSO Performance</h3>
The rising number of retail locations, particularly in Illinois and New Jersey, has diluted revenues per store, pointing to an over-expansion that the market may not sustain in the longer term.
Leading MSOs like Ascend Wellness, Cresco Labs, and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37707380/green-thumbs-edge-over-s-p-500-etfs-cannabis-investor-confidence-propels-expansion-">Green Thumb Industries</a> have effectively managed their brand distribution, which is crucial as the market shifts towards more mainstream retail models.
<h2>Comparative Analysis: 4Q23 vs. 1Q24 Cannabis Market Trends</h2>
<h3>Sales Trends and Economic Indicators</h3>
Analyzing quarterly changes, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36745790/2024-oscars-of-marijuana-equity-analyst-nominations-spotlight-key-state-performers">the end of 2023</a> and the beginning of 2024 saw varying sales trends across key cannabis markets.
California saw a continuation of downward trends, moving from a 12% YoY decrease in 4Q23 to a 6% YoY decrease in 1Q24, suggesting a slight improvement in the market&#39;s decline rate. Conversely, Michigan exhibited strong growth in both quarters, with a 24% YoY increase in 1Q24 following a 27% YoY increase in 4Q23, highlighting its robust market expansion.
In <a href="https://www.benzinga.com/topic/arizona-cannabis">Arizona</a>, sales slightly recovered in 1Q24 with a decline of 6% YoY, compared to a 6% YoY decline in 4Q23, indicating consistent market challenges year-over-year.
<h3>Retail And Pricing Dynamics</h3>
The sector&#39;s retail landscape reflected notable differences in store economics and pricing pressures. For example, Illinois reported a sales decrease of 4% sequentially in 1Q24 after a positive trend in 4Q23 (+3% seq).
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38037571/floridas-6b-cannabis-market-anticipates-400-growth-following-court-decision-allowin">Florida&#39;s market showed stable growth</a> in both quarters but with a slight increase in sales velocity from flat sequential growth in 4Q23 to +1% sequentially in 1Q24. Retail prices across these states continued to stabilize or decline slightly, impacting overall revenue per store and pointing to a trend of market saturation and increased competition.
<h3>Strategic Shifts And MSO Activities</h3>
Multi-state operators (MSOs) adjusted their operations strategically to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38226873/analyst-reacts-to-fda-commish-comments-medical-and-recreational-cannabis-could-have">accommodate changing conditions</a>, scaling their activities in saturated markets like New Jersey and Nevada while expanding in states like Florida and <a href="https://www.benzinga.com/markets/cannabis/24/02/37242307/jushi-holdings-revs-up-unleashing-torque-in-pennsylvania-and-virginias-cannabis-expansion">Pennsylvania</a>, where positive sales trends offered growth opportunities that companies like Trulieve and Curaleaf capitalized on.
Photo: AI-Generated Image.&nbsp;

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Who's Winning In Weed? Analyst Looks At Cannabis Market's Big Players, Where Are The Best Bets?

Goldman Sachs&nbsp;analyst Eric Sheridan had a Neutral rating on&nbsp;Spotify Technology SA&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a price target of $277.
Spotify reported&nbsp;<a href="https://www.benzinga.com/news/earnings/24/04/38377741/music-giant-spotifys-q1-surprise-investors-cheer-premium-subscriber-growth-and-profit-bump" target="_blank" rel="noreferrer noopener">fiscal first-quarter 2024</a>&nbsp;revenue growth of 20% year-on-year to $3.95 billion, beating the consensus of&nbsp;$3.85 billion.&nbsp;EPS of $1.05 beat the&nbsp;consensus of $0.70. 
The stock price jumped Tuesday after the print.
The analyst expects Spotify to have a positive market reaction to its first-quarter 2024 earnings report (including its forward second-quarter 2024 commentary) as the company reported roughly in-line subscriber and revenue performance across its businesses with some headwinds to forward revenue and subscriber momentum in the forward forecast.&nbsp;
In addition (and likely the more significant component of the stock reaction to this earnings report), he would focus on the positive operating momentum in both gross margins and operating margins on a mix of improved music and podcast trends with some headwind from audiobook costs operating margins benefiting from lower personnel and marketing spend.&nbsp;
In many ways, the continued momentum around the margin trajectory will likely remain supportive of the shares on the back of the potential for forward positive estimate revisions, as per the analyst.&nbsp;
Ahead of the earnings call, Sheridan expected investors to focus on SPOT management commentary on reasons for subscriber volatility (both in the reported quarter and forward commentary), any management comments about recent press reports discussing future pricing actions, additional color on forward profit margin trajectory, an update on a new permanent CFO and elements of the broader media consumption landscape.
SPOT price action: Spotify shares traded higher by 14.74% at $312.31 at the last check Tuesday.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38383512/jetblue-airways-shares-witness-over-10-drop-on-disappointing-annual-outlook">JetBlue Airways Shares Witness Over 10% Drop On Disappointing Annual Outlook</a>
Photo: Esthermm on Shutterstock

Entertainment

Spotify Demonstrates Robust Financial Health With Impressive Q1 Revenue, Margin Improvements: Analyst

<a href="https://www.wsj.com/business/deals/ibm-nears-deal-for-cloud-software-provider-cf146448?mod=latest_headlines" title="https://www.wsj.com/business/deals/ibm-nears-deal-for-cloud-software-provider-cf146448?mod=latest_headlines">https://www.wsj.com/business/deals/ibm-nears-deal-for-cloud-software-provider-cf146448?mod=latest_headlines</a>

'IBM Nears Deal For Cloud-Software Provider' - Wall Street Journal

NFLX

Netflix shares are trading higher as the stock rebounds after its recent earnings report.

According to a recent CBS News poll, 39% of Americans believe the economy is "good," with 57% of respondents viewing the economy as "bad."
It's an issue President Joe Biden has to grapple with as his reelection campaign gears up, especially given that 65% of Americans remember the economy as good under former President Donald Trump, according to the poll.
In August 2022, Biden announced "zero inflation" at a time when the consumer price index (CPI) reported it was 8.5%. While he was referring to 0% month-over-month inflation at the time, it rubbed many the wrong way given the negative perception of the economy, with one Republican senator calling the claim "gaslighting."
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While Biden has slightly backed off those claims in the face of still rising inflation, citing "progress" while acknowledging "prices are still too high," a report from the consulting firm McKinsey &amp; Co. uncovered what Americans are now splurging on.
It found that "<a href="https://www.benzinga.com/money/how-much-should-i-spend-on-groceries">groceries were the new biggest splurge category</a>," beating out other more discretionary categories such as eating out, travel and beauty, with millennials being the most likely to count groceries as their biggest luxury.
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While the same report cited improving consumer optimism about the economy, some commentators found humor that groceries are the biggest splurge category in the face of persistent inflation.
Former American intelligence contractor Edward Snowden posted on X, "The ratchet: first they criticize you for eating avocado toast and then for eating at all."
As many Americans struggle to keep up with the rising prices of necessities, some funds see <a href="https://www.benzinga.com/money/gameflip-2">an opportunity to profit</a>.
Alaska Permanent Fund, the largest U.S state wealth fund, recently disclosed it tripled its stake in Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>), America's two largest grocery players by market share.
Even Warren Buffett's Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) is a big fan of Kroger, owning 6.9% of the grocer.
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Biden's Old '0% Inflation' Comment Comes Back To Bite As McKinsey Says New Biggest Splurge For US Consumers Is Groceries

In a surprising turn of events, both proponents and opponents of cannabis reform in Hawaii joined forces to defeat a bill aimed at decriminalizing marijuana further. 
The bill, known as SB2487, would have eased penalties for possession and use of marijuana but was rejected in a vote of 16 to 9 in the state legislature. Sen. Angus McKelvey (D) explained his opposition by highlighting potential risks.
&#8220;The Senate sent a very good, reasonable, <a href="https://www.benzinga.com/markets/cannabis/24/02/37114909/hawaii-senators-approve-cannabis-legalization-bill-despite-internal-opposition-to-governors-pro-">recreational legalization</a> bill with guard rails over to the other chamber. In other states where the rush to decriminalization is outpacing their own recreational medical marijuana market; you could have a black market that could explode. Thereby undercutting and creating all the safety hazards that the bill that we sent over would have addressed,&#8221; McKelvey stated. 
The bill aimed to remove certain penalties under the <a href="https://www.benzinga.com/topic/controlled-substances-act">Uniform Controlled Substances Act</a>, specifically those related to marijuana paraphernalia. It also proposed reducing penalties for the possession and transfer without remuneration of marijuana, concentrates and infused products, while designating public smoking of marijuana as a violation under promoting a detrimental drug in the third degree. Currently, Hawaii has decriminalized possession of up to three grams of cannabis. 
The rejection of SB2487 comes after another failed legislative effort earlier this year when a recreational cannabis bill was killed in the House. 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Senate Floor Session 4-22-2024 11:30am" width="500" height="281" src="https://www.youtube.com/embed/HW3agd3Pe54?start=3295&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
<figcaption class="wp-element-caption">Senate Floor Session 4-22-2024 11:30am.</figcaption></figure>
<h3 class="wp-block-heading">If They Favor Cannabis, Why Would They Reject The Bill?</h3>
Cannabis regulation isn&#8217;t simply a battle between progressives and conservatives. Advocates for cannabis freedom often support decriminalization, but the complete liberalization of the cannabis market can introduce health and public safety challenges. These concerns are more effectively managed through legalization frameworks. Similarly, substances like alcohol, tobacco and prescription medications are regulated rather than merely decriminalized, just as the personal possession of nearly all plants is subject to legal oversight. 
Hawaiian decriminalization began in early 2020 after an initial attempt to pass a legalization bill failed in the House. There appears to be a consistent approach in the political discussions, which involves a trade-off between pursuing full legalization and expanding consumer rights through decriminalization measures. 
This reflects a strategic legislative effort, balancing the broader goals of legalization against more immediate, albeit limited, advancements. Meanwhile, another piece of legislation concerning cannabis is advancing. A new bill that would establish a pilot program for <a href="https://www.benzinga.com/markets/cannabis/24/04/38110997/hawaii-lawmakers-kill-cannabis-legalization-bill-but-push-decriminalization-expungement">marijuana expungements</a> is headed to the desk of Gov. <a href="https://www.benzinga.com/markets/cannabis/24/02/37022391/hawaii-discusses-cannabis-legalization-governor-says-stoners-are-less-violent-just-hungry-but-co">Josh Green </a>(D-HI). If approved, it could offer some relief and reform, compensate for the technical tie and level the scale a bit once again.

Hawaii: Cannabis Decriminalization Bill Fails Amid Unified Legislative Opposition

In the preceding three months, 10 analysts have released ratings for Maplebear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>), presenting a wide array of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $41.0, a high estimate of $46.00, and a low estimate of $28.00. This upward trend is apparent, with the current average reflecting a 18.12% increase from the previous average price target of $34.71.
<img src="https://www.benzinga.com/files/images/story/2024/1713895285_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Maplebear. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Rob Sanderson</td>
<td>Loop Capital</td>
<td>Announces</td>
<td>Buy</td>
<td>$46.00</td>
<td>-</td>
</tr>
<tr>
<td>Michael Morton</td>
<td>MoffettNathanson</td>
<td>Raises</td>
<td>Neutral</td>
<td>$37.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Colin Sebastian</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$44.00</td>
<td>$31.00</td>
</tr>
<tr>
<td>Ross Compton</td>
<td>Macquarie</td>
<td>Announces</td>
<td>Outperform</td>
<td>$42.00</td>
<td>-</td>
</tr>
<tr>
<td>Doug Anmuth</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$45.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Thomas Champion</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$45.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Nikhil Devnani</td>
<td>Bernstein</td>
<td>Raises</td>
<td>Outperform</td>
<td>$43.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Deepak Mathivanan</td>
<td>Wolfe Research</td>
<td>Raises</td>
<td>Outperform</td>
<td>$39.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Ross Sandler</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$41.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Brian Nowak</td>
<td>Morgan Stanley</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$28.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Maplebear. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Maplebear compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Maplebear's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Maplebear's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/CART/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Maplebear analyst ratings.</a>
<h2>Discovering Maplebear: A Closer Look</h2>
Maplebear, which does business as Instacart, is an online grocery pickup and delivery service provider currently in the United States and Canada. Instacart partners with local and national grocers who provide their selection of food and other goods to customers through Instacart's mobile app or website. After a customer places an order, an independent personal shopper employed by Instacart will pick the order and either prepare it for pickup or deliver it to the customer's chosen location. Instacart's revenue model consists of transaction revenue in the form of retailer and customer fees, as well as advertising revenue from brand advertising on Instacart platforms.
<h3>Maplebear's Financial Performance</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Growth: Over the 3 months period, Maplebear showcased positive performance, achieving a revenue growth rate of 6.08% as of 31 December, 2023. This reflects a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Consumer Staples sector.
Net Margin: Maplebear's net margin is impressive, surpassing industry averages. With a net margin of 16.56%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 3.68%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Maplebear's ROA stands out, surpassing industry averages. With an impressive ROA of 2.91%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Maplebear's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.01.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CART

What 10 Analyst Ratings Have To Say About Maplebear

TScan Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCRX#NASDAQ">TCRX</a>) underwent analysis by 4 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated TScan Therapeutics and provided 12-month price targets. The average target is $10.75, accompanied by a high estimate of $15.00 and a low estimate of $9.00. Surpassing the previous average price target of $7.00, the current average has increased by 53.57%.
<img src="https://www.benzinga.com/files/images/story/2024/1713895276_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The standing of TScan Therapeutics among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>David Nierengarten</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$10.00</td>
<td>-</td>
</tr>
<tr>
<td>Peter Lawson</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$9.00</td>
<td>$7.00</td>
</tr>
<tr>
<td>Andrew Fein</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Buy</td>
<td>$15.00</td>
<td>-</td>
</tr>
<tr>
<td>David Nierengarten</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$9.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to TScan Therapeutics. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of TScan Therapeutics compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for TScan Therapeutics's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
For valuable insights into TScan Therapeutics's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/TCRX/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on TScan Therapeutics analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Delving into TScan Therapeutics's Background</h2>
TScan Therapeutics Inc is a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies (TCR-T) for the treatment of patients with cancer. The company's liquid tumor TCR-T therapy candidates, TSC-100 and TSC-101, are in development for the treatment of patients with hematologic malignancies to eliminate residual leukemia and prevent relapse after hematopoietic stem cell transplantation. It is also developing multiplexed TCR-T therapy candidates for the treatment of various solid tumors.
<h3>Breaking Down TScan Therapeutics's Financial Performance</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: TScan Therapeutics displayed positive results in 3 months. As of 31 December, 2023, the company achieved a solid revenue growth rate of approximately 132.99%. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Health Care sector.
Net Margin: TScan Therapeutics's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive -271.99% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): TScan Therapeutics's ROE excels beyond industry benchmarks, reaching -12.26%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of -6.96%, the company showcases effective utilization of assets.
Debt Management: TScan Therapeutics's debt-to-equity ratio stands notably higher than the industry average, reaching 0.61. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>Analyst Ratings: What Are They?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

TCRX

Unveiling 4 Analyst Insights On TScan Therapeutics

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Biodesix GAAP EPS of -$0.10, revenue of $14.7M

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Biodesix Inc Up 8.59% To $1.67 After Earnings Beat

Biodesix, Inc. (BDSX) Q4 2023 Earnings Call Transcript

Biodesix Inc. reported strong Q4 performance, with significant revenue growth.

Biodesix Reports 65% Growth In Lung Diagnostic Test Volume In Q4

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Check-Cap, Outset Medical, Vincerx Pharma among healthcare movers

ANGO

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Press Releases

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Biodesix Announces Third Quarter 2023 Results and Highlights

Biodesix to Participate in Two Upcoming Investor Conferences in November

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Biodesix to Report Fourth Quarter and Full Year 2023 Financial Results on March 1, 2024

Biodesix to Participate in the TD Cowen 44th Annual Health Care Conference

Biodesix Announces Fourth Quarter and Fiscal Year 2023 Results and Business Highlights

Biodesix Announces New Master Collaborative Research Agreement with Leading US Cancer Center

Biodesix Announces Pricing of Oversubscribed and Upsized Underwritten Offering of Common Stock and Concurrent Private Placement

Biodesix to Present New Data on Liquid Biopsy Technologies at AACR 2024 Annual Meeting

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