BlackRock Innovation (NYSE:BIGZ) Stock, Quote.Headers.trade-ideas

BlackRock Innovation

BlackRock Innovation & Growth Tr is a non-diversified, closed-end management investment company. The Trust's investment objectives are to provide total return and income through a combination of current income, current gains, and long-term capital appreciation. The Trust's adviser focuses on mid- and small-capitalization growth companies that are "innovative.".

BlackRock Innovation and Growth Term Trust Common Shares of Beneficial Interest

BlackRock Innovation & Growth Tr

JD.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) shares are trading lower by 2.05% to $32.21 Wednesday morning. Shares of US-listed Chinese companies are trading lower amid a possible selloff following yesterday&#8217;s strength after China&#8217;s Central Bank announced a <a href="https://www.benzinga.com/markets/asia/24/09/41003814/chinese-stocks-jump-as-central-bank-unveils-major-stimulus-to-spur-economy-a-step-in-the-right-direc">new stimulus package</a>.
What Happened: JD&#8217;s decline is likely attributed to profit-taking, as investors lock in gains following a sharp 7% rise on Tuesday after the People&#8217;s Bank of China (PBoC) announced substantial cuts to key interest rates and the reserve requirement ratio (RRR) for banks.
The central bank&#8217;s stimulus, which included a 50-basis-point reduction in the RRR—injecting 1 trillion yuan ($140 billion) of liquidity into the financial system—initially sparked a rally across Chinese stocks, with JD.com seeing a sharp rise as investor sentiment improved on hopes of economic recovery.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41024067/mortgage-demand-soars-as-fed-interest-rate-cut-fuels-housing-market-revival-next-sp">Mortgage Demand Soars As Fed Interest Rate Cut Fuels Housing Market Revival: &#8216;Next Spring Could See A Real Rebound&#8217;</a>
Profit-taking is a common occurrence after such significant market moves, especially in a volatile macroeconomic environment where investor sentiment can shift quickly. 
The initial enthusiasm over the PBoC's measures led to a wave of buying across Chinese equities, including JD.com, which is highly sensitive to shifts in consumer demand and economic growth in China.
What Else: Despite Wednesday's decline, the broader outlook for JD.com remains positive in light of the PBoC&#8217;s easing measures. The company, a leader in China's e-commerce and logistics sectors, stands to benefit from increased liquidity and potentially stronger consumer spending as the economy recovers. 
JD.com's extensive logistics network and diverse product offerings position it well to capture demand as Chinese consumers regain purchasing power, which could materialize in the coming quarters as the effects of the stimulus ripple through the economy.
Read Also: <a href="https://www.benzinga.com/trading-ideas/technicals/24/09/41024795/micron-earnings-showdown-charts-show-bulls-and-bears-in-standoff">Micron Earnings Showdown: Charts Show Bulls And Bears In Standoff</a>
Still, market volatility could persist as investors assess the long-term impact of the PBoC's actions. While the liquidity injection and rate cuts provide a short-term boost, questions remain about whether more fiscal and monetary support will be needed to sustain economic momentum. 
Analysts, including those from Goldman Sachs, have cautioned that while the monetary easing is a step in the right direction, additional measures may be required to fully counteract the broader economic slowdown.
<h2 class="wp-block-heading">How To Buy JD Stock</h2>
By now you're likely curious about how to participate in the market for JD.Com &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so. 
In the the case of JD.Com, which is trading at $33.15 as of publishing time, $100 would buy you 3.02 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, JD has a 52-week high of $35.68 and a 52-week low of $20.82.

News

What's Going On With JD.Com Stock Today?

Embedded AI/ML Capabilities to Improve Performance and Reliability, Create Economies of Scale and Chart a Path to 25Gbps Future Over Existing Network Infrastructure
&nbsp;
PALO ALTO, Calif. and STAMFORD, Conn. and PHILADELPHIA, Sept. 25, 2024 /PRNewswire/ --&nbsp;Broadcom Inc., Charter Communications, and Comcast today announced a joint development of Unified DOCSIS chipsets for network nodes, smart amps, and cable modems, enabling both FDX and ESD versions of the DOCSIS 4.0 specification, and setting the stage to deliver upwards of 25 Gbps speeds over existing networks. This specification brings together all the benefits of both DOCSIS ESD and DOCSIS FDX and includes support for both mid-split and high-split configurations.
Designed for compliance with the existing DOCSIS 4.0 standard and creating a foundation for the next generation, the technology solutions will enable all operators through a single and open standard, delivering on the following advantages:
&nbsp;
<ul>
<li>Economies of scale for the industry</li>
<li>Robust vendor ecosystem</li>
<li>Streamlined CableLabs certification and operator qualification</li>
</ul>

AVGO

CHTR

CMCSA

Broadcom, Charter Communications, And Comcast To Collaborate On Developing Unified DOCSIS Chipsets Supporting 25Gbps Speeds

JP Morgan analyst Mark Strouse maintains Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) with a Neutral and raises the price target from $30 to $31.

Price Target

Analyst Ratings

JP Morgan Maintains Neutral on Brookfield Renewable, Raises Price Target to $31

Automatic Data Processing (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>) has outperformed the market over the past 15 years by 1.9% on an annualized basis producing an average annual return of 13.95%. Currently, Automatic Data Processing has a market capitalization of $112.58 billion. 
Buying $1000 In ADP: If an investor had bought $1000 of ADP stock 15 years ago, it would be worth $7,024.17 today based on a price of $276.05 for ADP at the time of writing.
<h3>Automatic Data Processing's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727278234_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

If You Invested $1000 In This Stock 15 Years Ago, You Would Have $7,000 Today

Comfort Systems USA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIX#NYSE">FIX</a>) has outperformed the market over the past 5 years by 41.12% on an annualized basis producing an average annual return of 55.37%. Currently, Comfort Systems USA has a market capitalization of $13.76 billion. 
Buying $100 In FIX: If an investor had bought $100 of FIX stock 5 years ago, it would be worth $890.29 today based on a price of $386.09 for FIX at the time of writing.
<h3>Comfort Systems USA's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727278229_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $100 In This Stock 5 Years Ago, You Would Have $900 Today

Meritage Homes's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>) short percent of float has fallen 3.31% since its last report. The company recently reported that it has 964 thousand shares sold short, which is 3.8% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.87 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Meritage Homes Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727278223_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Meritage Homes has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Meritage Homes's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Meritage Homes's peer group average for short interest as a percentage of float is 5.83%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into Meritage Homes's Recent Short Interest

Agree Realty's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADC#NYSE">ADC</a>) short percent of float has risen 10.03% since its last report. The company recently reported that it has 11.36 million shares sold short, which is 15.79% of all regular shares that are available for trading. Based on its trading volume, it would take traders 10.54 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Agree Realty Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727278218_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Agree Realty has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Agree Realty's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Agree Realty's peer group average for short interest as a percentage of float is 5.06%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(ADC) - Analyzing Agree Realty's Short Interest

AutoZone's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) short percent of float has risen 3.2% since its last report. The company recently reported that it has 436 thousand shares sold short, which is 2.9% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.28 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>AutoZone Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727278212_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for AutoZone has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing AutoZone's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, AutoZone's peer group average for short interest as a percentage of float is 11.58%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Looking Into AutoZone's Recent Short Interest

Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) shares are trading higher Wednesday. The stock appears to be recovering from a dip following the company's announcement on Monday of a private placement <a href="https://www.benzinga.com/news/24/09/41004088/snowflake-stock-is-falling-tuesday-whats-going-on">of convertible senior notes</a>.
The Details:
Snowflake shares fell after the company announced it intends to offer $1 billion worth of convertible senior notes due 2027 and $1 billion worth of convertible senior notes due 2029 in a private placement to institutional investors.
On Wednesday, Snowflake announced the <a href="https://www.benzinga.com/markets/equities/24/09/41020448/snowflake-expects-to-raise-1-97b-via-debt-offering-details">pricing of the offering</a> with the initial conversion rate for both the 2027 and 2029 notes at 6.3492 shares per $1,000 principal, or $157.50 per share, a 40% premium to the stock price as of Sept. 24. 
Read Next:<a href="https://www.benzinga.com/news/24/09/41011763/whats-going-on-with-intel-stock"> What&#8217;s Going On With Intel Stock?</a>
On Tuesday, Rosenblatt analyst Blair Abernethy maintained a Buy rating on Snowflake with a price target of $180 and highlighted the company's <a href="https://www.benzinga.com/news/24/09/41008816/snowflake-to-offer-2b-in-convertible-notes-analyst-says-its-from-a-position-of-financial-strength">financial position</a> with $3.9 billion in cash and no debt.&nbsp;
"In our view, the company is issuing the proposed Notes from a position of financial strength," Abernethy wrote.
Snowflake shares are trending higher on heavy trading Wednesday. According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, more than double the stock's average daily volume has already been traded in the session.&nbsp;
<h3 class="wp-block-heading">Will SNOW Stock Go Up?</h3>
When trying to assess whether or not Snowflake will trade higher from current levels, it's a good idea to take a look at analyst forecasts. 
Wall Street analysts have an average 12-month price target of $165.48 on Snowflake. The Street high target is currently at $220 and the Street low target is $121. Of all the analysts covering Snowflake, 19 have positive ratings, 10 have neutral ratings and no one has negative ratings.
In the last month, one analyst has adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/SNOW/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Snowflake have performed in recent history. 
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Snowflake is 38.42% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about Snowflake, visit <a href="https://www.benzinga.com/quote/SNOW">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
SNOW Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Snowflake shares are up 1.70% at $114.41 at the time of publication Wednesday.
Read Also:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40991529/what-happened-with-palantir-stock-today">What Happened With Palantir Stock Today?</a></li>
</ul>
Image: Shutterstock

Movers

SNOW

What's Going On With Snowflake Stock?

Stitch Fix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFIX#NASDAQ">SFIX</a>) stock is moving lower on Wednesday after the company reported 2024 fiscal-year fourth quarter results, including <a href="https://www.benzinga.com//node/41014297">worse-than-expected EPS</a>.
What Happened: The company reported on Tuesday after the market closed a loss of 29 cents per share missing analysts estimate of a loss of 19 cents per share. 
Revenue: Stitch Fix reported sales of $319.6 million beating analysts estimate of $318.5 million. The reported sales figure represents a 12.4% decrease year-over-year.
Other Figures: The company reported a net loss of $35.7 million, adjusted EBITDA of $9.5 million and free cash flow of $4.5 million.
FY24: Stitch Fix reported financials for the fiscal year as a whole. The company reported net revenue of $1.34 billion, Adjusted EBITDA of $29.3 million and free cash flow of $14.2 million. Lastly, Stitch Fix stated that it saw a 19.6% year-over-year decrease in active clients with a current count of 2,508,000,
&#8220;We are executing our transformation strategy with discipline and, during the&nbsp;fourth quarter, we delivered results at the high end of our&nbsp;guidance&nbsp;on both the top and bottom line,&#8221; said Matt Baer, CEO, Stitch Fix.
Guidance: Stitch Fix sees net revenue between $303 million and $310 million for the 2025 fiscal-year first quarter.
Analyst Changes: Following the earnings report, several analysts issued price target adjustments.
<ul>
<li>Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating on Stitch Fix and maintained a $4&nbsp;price target.</li>
<li>Canaccord Genuity analyst Maria Ripps maintained a Hold rating on Stitch Fix and lowered the price target from&nbsp;$4.5&nbsp;to&nbsp;$3.5.</li>
</ul>
See Also: <a href="https://www.benzinga.com/news/24/09/41010963/nvidia-stock-is-ripping-higher-tuesday-whats-going-on?itm_source=parsely-api">Nvidia Stock Is Ripping Higher Tuesday: What&#8217;s Going On?</a>
SFIX Price Action: At the time of writing, Stitch Fix shares are moving 36% lower at $2.40 per data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Photo courtesy of Stitch Fix

SFIX

What's Going On With Stitch Fix Shares Wednesday?

<a href="https://www.diageo.com/en/news-and-media/press-releases/2024/diageo-expands-leading-position-in-non-alc-spirits-with-acquisition-of-ritual-zero-proof" title="https://www.diageo.com/en/news-and-media/press-releases/2024/diageo-expands-leading-position-in-non-alc-spirits-with-acquisition-of-ritual-zero-proof">https://www.diageo.com/en/news-and-media/press-releases/2024/diageo-expands-leading-position-in-non-alc-spirits-with-acquisition-of-ritual-zero-proof</a>

Diageo North America Acquires Ritual Zero Proof Non-Alcoholic Spirits; Deal Has Been Funded Through Existing Cash Resources; Exact Financial Terms Not Disclosed

JP Morgan analyst Bryan Smilek maintains Duolingo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOL#NASDAQ">DUOL</a>) with a Overweight and raises the price target from $255 to $303.

DUOL

JP Morgan Maintains Overweight on Duolingo, Raises Price Target to $303

Online sports betting and iGaming company Flutter Entertainment plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>) shares are trading higher after the company announced medium-term guidance for 2027 and<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41023089/flutter-entertainment-outlines-long-term-growth-plan-and-up-to-5bn-share-repurchase-program-author" rel="noreferrer noopener"> authorized a share repurchase program</a>.
The company targets revenue of around $21 billion in 2027, representing a compound annual growth rate (CAGR) of 14%, based on the midpoint of U.S. and Rest of World (ROW) 2027&nbsp;guidance.
Also, Flutter projects an adjusted EBITDA of over $5 billion, adjusted EBITDA&nbsp;margin expansion of 700 basis points, and free cash flow of around $2.5 billion by 2027.
The significant total addressable market (TAM) for regulated gaming is projected to reach $368 billion by 2030, with global gross gaming revenue (GGR) expected to grow at a<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> compound annual growth rate (CAGR) of 8%</a>.
In particular, for the U.S., the long-term gross gaming revenue (GGR) margin for sportsbooks is projected to be 16%, reaching 15% by 2027, resulting in a net gaming revenue (NGR) margin of 12% for FanDuel.
For Rest of the World (ROW), the company anticipates a long-term revenue CAGR of 5%-10%, with 2027 revenue expected to reach approximately $11.5 billion at the midpoint, including Snai and NSX, while existing ROW revenue is around $9.5 billion.
Additionally, ROW cost efficiency programs are anticipated to generate savings of approximately $300 million in 2027.
Apart from this, the Board approved a share buyback program of up to $5 billion, set to be implemented over the next three to four years, with a launch anticipated after the third-quarter earnings report in November 2024.
Flutter&#8217;s CEO, Peter Jackson, indicated that the 2027 U.S. profit growth projection is based on the current regulatory environment, with confidence in offsetting potential tax changes.
The company is open to acquiring capabilities in the U.S. and pursuing mergers and acquisitions beyond fragmented global opportunities.
Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40897442/flutter-entertainment-snaps-up-snaitech-for-2-3b-aiming-to-dominate-italys-online-betting-scene" rel="noreferrer noopener">Flutter Entertainment Snaps Up Snaitech For €2.3B, Aiming To Dominate Italy&#8217;s Online Betting Scene</a>
Jackson also anticipates a yearly increase of about 2 percentage points in the U.S. sportsbook population as new states come online.
Investors can gain exposure to the stock via&nbsp;VanEck Gaming ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJK#NASDAQ">BJK</a>).
Price Action: FLUT shares are up 7.6% at $245.50 at the last check Wednesday.
Photo via Company
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/41026819" target="_blank" rel="noreferrer noopener">Emergent BioSolutions Confirms Orders Worth $400M Related To Smallpox, Mpox Vaccines</a></li>
</ul>

Equities

Large Cap

Guidance

Buybacks

FLUT

Flutter Bets Big On US And Global Expansion: $21B Revenue Goal And $5B Buyback In Sight

JP Morgan analyst David Karnovsky maintains Fox (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>) with a Neutral and raises the price target from $38 to $41.

FOXA

JP Morgan Maintains Neutral on Fox, Raises Price Target to $41

WIIM

CLDX

Celldex Therapeutics shares are trading lower lower. The company announced 52 week results from its Barzolvolimab Phase 2 Study in chronic spontaneous urticaria at EADV 2024.

Evercore ISI Group analyst Jonathan Chappell maintains Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) with a In-Line and lowers the price target from $128 to $119.

Evercore ISI Group Maintains In-Line on Canadian National Railway, Lowers Price Target to $119

Years ago, President Trump talked about a change in tax rates that he described as &ldquo;big league&rdquo;. It was misinterpreted as &ldquo;bigly&rdquo; and a new word entered the lexicon. Last week, the Fed pivoted and cut the fed funds rate. This cut was more than two years after Fed doves and asset gatherers started begging for a return to zero interest rates. The Fed was too late for them and too early for my liking. They went for the 50bp cut, a bigly move. Those who disagree with me about the Fed will find their proof in weaker than expected results from shipper, FedEx (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdx#NYSE">FDX</a>). Intel (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intc#NASDAQ">INTC</a>) makes the smart move to separate their foundry business and gets a $3B government contract (and a potential buyout). Despite being a free market advocate, I think this was a good move for all involved. We discuss how Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is a short-term proxy for the NASDAQ and a long-term hedge against inflation. Finally, Learn Wall Street gives the smart advice to do substantial research before investing and we provide two examples of why that&rsquo;s important.
This week, we&rsquo;ll address the following topics:
<ul>
<li>
The Federal Reserve pivots and cuts the fed funds rate by 50bp. More cuts on the way.
</li>
<li>
Lower rates mean more inflation which means reduced purchasing power for the dollar. Bitcoin rises on expectations for a weaker dollar.
</li>
<li>
Intel restructures and gets a big government contract. After weeks of criticizing Intel, DKI approves.
</li>
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FedEx&nbsp;misses bigly supporting the decision of the Fed to cut.
</li>
<li>
If someone tells you there&rsquo;s gold underground, how do you know there&rsquo;s gold?
</li>
</ul>
Alex Petrou and Andrew Brown come through bigly delivering an almost-completed version of this week&rsquo;s 5 Things by Thursday night. Fantastic work as usual. Next week&rsquo;s 5 Things will not include the word &ldquo;bigly&rdquo;. In order to remain non-partisan, will we include the term &ldquo;unburdened by what has been&rdquo;? Probably not, but check in with us just to be certain.
Ready for a new week of big rate cuts and more inflation? Let&rsquo;s dive in:
<ul>
<li>
<a href="https://www.youtube.com/watch?v=-7aIf1YnbbU&amp;t=10s">The Fed Pivot is Here</a>:
</li>
</ul>
The Federal Reserve completed its September meeting and decided to cut the fed funds rate by 50bp (.50%). The market knew the Fed would pivot and cut at this meeting. There was debate regarding the size of the cut. I had expected 25bp (.25%). The doves in the crowd calling for the larger 50bp cut were correct. The Fed will continue its monthly quantitative tightening and will continue to shrink the size of its balance sheet (for now). Given the weaker employment data and the public comments by Chairman Powell, I&rsquo;m not surprised the Fed cut (no one is surprised at this point). I&rsquo;m a bit surprised by the larger 50bp cut because the Fed tries to appear non-partisan and non-political in its actions. Today&rsquo;s larger cut just 6 weeks before the November elections give the appearance that they&rsquo;re trying to help Democratic candidates. Public cries for a 75bp cut from prominent Democratic politicians did not help this perception.
<img alt="70s_inflation_comparison.jpg" src="https://www.benzinga.com/files/images/2024/September/25/70s_inflation_comparison.jpg" style="height:381px; width:624px" />
For those of you who were cheering for rate cuts, please look at this chart.
DKI Takeaway: I&rsquo;m probably in the minority here, but think this cut is unwise. While many claim that the US economy is already in recession, I&rsquo;m concerned that inflation is still above the 2% target and retail sales remain strong. There are still almost 8MM jobs available which is more than the number of people seeking jobs. Most importantly, Congress is still engaging in trillions of dollars of annual inflation-causing stimulus spending. (For those of you on team red or team blue, I&rsquo;m sorry to report that overspending is a bipartisan problem.) Check out the graph for this Thing where we compare the inflation of the 1960s and 1970s with the more recent numbers. You can see where former Fed Chairman, Arthur Burns, eased rates prematurely leading to a resurgence of inflation. It looks like the Powell-led Fed just made the same decision. In the end, my opinion of the wisdom of the actions of the Fed is not relevant. We get the market and conditions we get, not the ones we want. As usual, DKI will invest based on the market we have. Our portfolio is well-prepared for higher inflation over the next few years. It&rsquo;s also important to note that recent DKI stock picks are high potential-return companies that I believe won&rsquo;t be economically sensitive and can continue to grow revenue at a high level regardless of future Fed actions.
<ul>
<li>
Bitcoin Update:
</li>
</ul>
Since hitting its all-time high in March, Bitcoin has been moving sideways (really up and down), but MicroStrategy (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mstr#NASDAQ">MSTR</a>) is still buying. Recently, they raised $750 million through a convertible debt offering right after purchasing $1.1 billion of Bitcoin (18,300 BTC). The strategy is clear: stack BTC while the opportunity is still there. With the Fed cutting rates, rising inflation, and the dollar losing purchasing power, Bitcoin&rsquo;s long-term appeal as a hedge against currency debasement is becoming more important than ever. With more money printing on the horizon, Bitcoin should thrive as traditional currencies continue to lose value.
<img alt="blackrock_bitcoin.jpeg" src="https://www.benzinga.com/files/images/2024/September/25/blackrock_bitcoin.jpeg" style="height:450px; width:447px" />
BlackRock was against Bitcoin before figuring out how to make money from it.
DKI Takeaway: In the short term, Bitcoin is still behaving as a high-beta proxy for tech stocks like the Nasdaq&rsquo;s Invesco QQQ Trust (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>)&mdash;rising sharply when tech rallies and crashing hard when sentiment sours. Following the recent Fed meeting, Bitcoin jumped from $59,000 to $63,500, reflecting this tech-driven volatility. Meanwhile, BlackRock released a whitepaper titled &quot;Bitcoin: A Unique Diversifier&quot;, outlining Bitcoin&rsquo;s growing role as a non-correlated asset and stressing its importance given the looming US debt crisis. With the US debt ballooning and dollar value at risk, Bitcoin is increasingly being seen as a critical asset in a diversified portfolio, unshackled from traditional market forces. DKI has owned and recommended Bitcoin since it was $15k.
<ul>
<li>
Intel Fights Back:
</li>
</ul>
As previously reported by DKI, Intel has faced challenges in recent weeks, struggling with negative headlines related to chip malfunctions. The company is having manufacturing issues and has fallen behind in power efficiency and AI-related GPUs. However, this week brought positive news from CEO Pat Gelsinger. Gelsinger announced that Intel&rsquo;s Foundry business will be restructured as a subsidiary with its own board, allowing it to raise external capital independently. He also hinted at a potential future spinoff of this division, which serves as a manufacturing partner for tech companies developing new products. In addition, the Foundry unit has entered a partnership with Amazon Web Services (AWS) to produce custom chips. Another significant development is the $3 billion in direct federal funding Intel secured for their Secure Enclave Program.
<img alt="intel.jpg" src="https://www.benzinga.com/files/images/2024/September/25/intel.jpg" style="height:371px; width:624px" />
It&#39;s been a rough year for Intel, but the takeover talk helped the stock price.
DKI Takeaway: Intel has struggled for the past few years. Their decline began in 2020 when Apple (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) decided to move away from Intel&#39;s chips in favor of its own M series. However, this week&#39;s announcements could signal a turning point. With ongoing layoffs and the separation of their business units, the company is positioning itself for greater efficiency. The $3 billion government order is a significant boost for both the company and national security. In today&rsquo;s world, chips are essential, and an inability of the U.S. to domestically produce and develop them poses a national security risk. While DKI generally advises against additional government intervention in the economy, this is one of the rare instances where national security considerations outweigh concerns over government spending. As we were finalizing this week&rsquo;s 5 things, Qualcom (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qcom#NASDAQ">QCOM</a>) announced they are interested in buying Intel. We&rsquo;ll probably have more on that next week.
<ul>
<li>
FedEx&nbsp;Earnings Disappoints and Validates the Federal Reserve:
</li>
</ul>
On Thursday, FedEx reported disappointing earnings, with revenue of $21.6 billion falling short of the projected $21.9 billion. The company also posted earnings per share of $3.60, well below the expected $4.77. Management cited a &ldquo;mix shift&rdquo; that &ldquo;reduced demand for priority services,&rdquo; which constrained yield growth. Additionally, they revised guidance, lowering revenue growth projections from low-to-mid single digits to low single digits and adjusting fiscal 2025 EPS expectations to $20-$21, down from the previous range of $20-$22.
<img alt="fedex_stock_price_-_september_20th_2024.jpg" src="https://www.benzinga.com/files/images/2024/September/25/fedex_stock_price_-_september_20th_2024.jpg" style="height:375px; width:624px" />
Lack of shipping demand supports the Fed decision to cut.
DKI Takeaway: FedEx&rsquo;s earnings are closely tied to retail performance, as the company supports major retailers like Walmart, Target, and Home Depot. Recently, FedEx reduced its end-of-year guidance, mirroring similar actions by these retail giants. This signals a slowdown in consumer spending and increasing unemployment, key factors influencing Fed Chair Powell&rsquo;s decision to adjust policy. The disappointing earnings report led to an 11% drop in FedEx&rsquo;s stock during after-hours trading, reflecting investor concerns about the broader economic outlook affirming the Fed&rsquo;s decision to make a larger cut in the fed funds rate. DKI has disagreed with the Fed decision to cut by 50bp. If you disagree with us, weak demand at $FDX is a good place to start.
<ul>
<li>
Gold/Investment Research:&nbsp;
</li>
</ul>
As usual, our friends at <a href="https://learnwallstreet.org/">Learn Wall Street</a> make an important point about doing proper research before investing. It might be fun to buy the latest meme stock on its way &ldquo;to the moon&rdquo; as a get rich quick and easy scheme, but the market has a way of punishing those who want to avoid doing hard work. Back in the 1990&rsquo;s, Canadian mining company, Bre-X Minerals, <a href="https://www.bbc.com/news/world-us-canada-68987824">claimed it had found a huge amount of gold</a> in the Indonesian jungle. Bre-X stock rose from $.20 to $280 (Canadian dollars). Skipping ahead, there was no gold. It turns out core samples were &ldquo;salted&rdquo; meaning gold from another location was sprinkled into samples to provide the false impression of a big gold find. There was no gold. Investors lost their money. And the chief geologist (or someone who looked like him) exited a helicopter in flight. It was a terrible outcome for everyone involved.&nbsp;
<img alt="learn_wall_street_research.jpeg" src="https://www.benzinga.com/files/images/2024/September/25/learn_wall_street_research.jpeg" style="height:624px; width:624px" />
Image Credit: <a href="https://x.com/LearnWllStreet/status/1808149286623793607/photo/1">Learn Wall Street</a>
DKI Takeaway: In 2012, I attended an investment conference where a prominent hedge fund manager extoled the virtues of Viacom. At the time, most big hedge funds had huge positions in Viacom, CBS, and Disney which owned ABC and ESPN. After a week of research, I went back to a friend at a multi-billion-dollar fund which owned Viacom. I asked how he got comfortable with the risk of streaming television, YouTube, Hulu, Netflix, piracy, and DVR-powered commercial avoidance. His answer was &ldquo;I haven&rsquo;t thought about it.&rdquo; Raji and I wrote a white paper called <a href="https://deepknowledgeinvesting.com/tv-is-next/">TV is Next</a> where we correctly predicted the downfall of the traditional television model due to now-common streaming. The linear television stocks got crushed in the coming years while Netflix grew its stock price and market cap to $300 billion. The tl;dr version: if a company or a smart investor tells you something, it&rsquo;s worth the time to do your own research and come to your own conclusion.
Information contained in this report, and in each of its reports, is believed by Deep Knowledge Investing (&ldquo;DKI&rdquo;) to be accurate and/or derived from sources which it believes to be reliable; however, such information is presented without warranty of any kind, whether express or implied.&nbsp; DKI makes no representation as to the completeness, timeliness, accuracy or soundness of the information and opinions contained therein or regarding any results that may be obtained from their use.&nbsp;The information and opinions contained in this report and in each of our reports and all other DKI Services shall not obligate DKI to provide updated or similar information in the future, except to the extent it is required by law to do so.&nbsp;
The information we provide in this and in each of our reports, is publicly available. This report and each of our reports are neither an offer nor a solicitation to buy or sell securities. All expressions of opinion in this and in each of our reports are precisely that. Our opinions are subject to change, which DKI may not convey. DKI, affiliates of DKI or its principal or others associated with DKI may have, taken or sold, or may in the future take or sell positions in securities of companies about which we write, without disclosing any such transactions.
None of the information we provide or the opinions we express, including those in this report, or in any of our reports, are advice of any kind, including, without limitation, advice that investment in a company&rsquo;s securities is prudent or suitable for any investor. In making any investment decision, each investor should consult with and rely on his or its own investigation, due diligence and the recommendations of investment professionals whom the investor has engaged for that purpose.&nbsp;
In no event shall DKI be liable, based on this or any of its reports, or on any information or opinions DKI expresses or provides for any losses or damages of any kind or nature including, without limitation, costs, liabilities, trading losses, expenses (including, without limitation, attorneys&rsquo; fees), direct, indirect, punitive, incidental, special or consequential damages.

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5 Things To Know In Investing This Week: The We Pivoted Bigly Issue

Evercore ISI Group analyst Greg Melich maintains AutoZone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) with a Outperform and lowers the price target from $3350 to $3300.

Evercore ISI Group Maintains Outperform on AutoZone, Lowers Price Target to $3300

<a href="https://www.tomshardware.com/pc-components/gpus/nvidia-expected-to-produce-450000-blackwell-ai-gpus-in-q4-potential-dollar10b-in-revenue-for-the-chipmaker">https://www.tomshardware.com/pc-components/gpus/nvidia-expected-to-produce-450000-blackwell-ai-gpus-in-q4-potential-dollar10b-in-revenue-for-the-chipmaker</a>
Analysts from Morgan Stanley believe that despite&nbsp;<a href="https://www.tomshardware.com/pc-components/gpus/nvidia-adresses-significant-blackwell-yield-issues-production-ramp-in-q4">low yields</a>&nbsp;caused by&nbsp;<a href="https://www.tomshardware.com/tech-industry/artificial-intelligence/nvidia-partners-indirectly-confirms-blackwell-b200-gpu-delay-offer-interested-parties-liquid-cooled-h200-instead">a significant yet easy-to-fix design issue</a>, Nvidia will produce around 450,000 AI GPUs based on the&nbsp;<a href="https://www.tomshardware.com/pc-components/gpus/nvidias-next-gen-ai-gpu-revealed-blackwell-b200-gpu-delivers-up-to-20-petaflops-of-compute-and-massive-improvements-over-hopper-h100">Blackwell</a>&nbsp;architecture. If the information is accurate and the company manages to sell these units this calendar year, this could translate into a revenue opportunity of over $10 billion.&nbsp;
"Blackwell chips are expected to see 450,000 units produced in the fourth quarter of 2024, translating into a potential revenue opportunity exceeding $10 billion for Nvidia," analysts from investment bank Morgan Stanley wrote in a note to clients, reports&nbsp;<a href="https://x.com/The_AI_Investor/status/1838674047124803768">The_AI_Investor</a>, a blogger that tends to have access to this kind of notes.&nbsp;
While the $10 billion and 450,000 numbers look significant, Nvidia will sell its high-demand Blackwell GPUs in short supply for around $22,000 per unit, down significantly from the rumored&nbsp;<a href="https://www.tomshardware.com/pc-components/gpus/nvidias-next-gen-blackwell-ai-gpus-to-cost-up-to-dollar70000-fully-equipped-servers-range-up-to-dollar3000000-report">$70,000 per Blackwell GPU</a> module. Although the actual pricing of data center hardware depends on factors like volumes and demand, selling the very first batches of ultra-high-end GPUs at lower prices compared to Nvidia's current-generation H100 is a bit odd.
Nvidia would, of course, prefer to sell 'reference' AI server cabinets powered by its Blackwell GPUs: the NVL36 featuring 36 B200 GPUs, which is expected to cost $1.8 million – $2 million, and the NVL72, with 72 B200 GPUs inside, which is scheduled to start at $3 million. Selling cabinets instead of GPU, GPU modules, or even DGX and HGX servers is much more profitable, and earning $10 billion by selling such machines is not unexpected. However, in this case, Nvidia will not need to supply 450,000 GPUs to earn $10 billion in revenue.
In late August, Nvidia said that it had to change the codenamed B100/B200 GPU photomask design to improve production yield. The company also noted that the GPUs will enter mass production in the fourth quarter and continue into fiscal 2026. In the fourth quarter of fiscal 2025 (which begins in late October for the company), Nvidia is expected to ship 'several billion dollars in Blackwell revenue,' significantly lower than the sum mentioned by Morgan Stanley analysts.
According to a&nbsp;<a href="https://www.semianalysis.com/p/nvidias-blackwell-reworked-shipment">SemiAnalysis</a>&nbsp;report, a mismatch in the coefficient of thermal expansion (CTE) of Blackwell chiplets and packaging materials caused the failure. Nvidia's B100 and B200 GPUs are the first to use TSMC's CoWoS-L packaging, which links chiplets using passive local silicon interconnect (LSI) bridges integrated into a redistribution layer (RDL) interposer. The precise placement of these bridges is crucial, but a mismatch in CTE between the chiplets, bridges, organic interposer, and substrate causes warping and system failure. Nvidia reportedly had to redesign the GPU's top metal layers to improve yields but did not disclose details, only mentioning new masks. The company clarified that no functional changes were made to the Blackwell silicon, focusing solely on yield improvements.
Due to the necessity of changing the design of B100 and B200 GPUs and the shortage of TSMC's CoWoS-L (a vastly different method from the proven CoWoS-S technology) packaging capacity, analysts did not expect Nvidia to ship many Blackwell-based GPUs in the fourth quarter of calendar 2024 or the fourth quarter of the company's fiscal 2025.

NVDA

'Nvidia Expected To Produce 450,000 Blackwell AI GPUs In Q4 — Potential $10B In Revenue For The Chipmaker' - Tom's Hardware

NIO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) shares along with other US listed Chinese stocks are trading lower Wednesday amid a possible selloff following Tuesday&#8217;s strength after China&#8217;s Central Bank announced a new stimulus <a href="https://www.benzinga.com/government/24/09/41004045/whats-going-on-with-chinese-stocks-alibaba-nio-xpeng-li-auto-on-tuesday">package</a>.
The Details: The stimulus package provides for a cut to the reserve requirement ratio by 0.5 percentage points, drops the loan prime rate and deposit rates by 0.2 to 0.25 percentage points and lowers the seven-day reverse repurchase rate to 1.5%.
In addition, the central bank&#8217;s package cuts the minimum down-payment ratio to 15% for second time home buyers. The bank announced this plan as a way to combat the slowdown in China&#8217;s markets.
Senior Economist at Natixis Gary Ng told The Guardian, "The move probably comes a bit too late, but it is better late than never. China needs a lower-rate environment to boost confidence."
Other stocks moving lower on Wednesday amid a possible selloff include, Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) and Xpeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>).
How To Buy NIO Shares
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in NIO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>)'s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/41023892/palantir-and-apa-amp-up-ai-alliance-multi-million-dollar-deal-to-transform-oil-gas-operations">Palantir And APA Amp Up AI Alliance: Multi-Million Dollar Deal To Transform Oil &amp; Gas Operations</a>
NIO Price Action: At the time of writing, NIO stock is trading 5.39% lower at $5.62, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Photo via Shutterstock

BABA

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XPEV

What's Going On With NIO Stock Wednesday?

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Saba Capital Corrects BlackRock's Intentionally False and Misleading 2024 Annual Meeting Results

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BlackRock Innovation (BIGZ) Forecast

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