Chegg (NYSE:CHGG) Stock, Quote.Headers.trade-ideas

Chegg

Chegg Inc is an American educational services company. The Chegg platform provides products and services to support learners with their academic course materials, as well as their career and personal skills development. The company's service and product offerings fall into two categories: Subscription Services, which encompasses Chegg Study Pack, Chegg Study, Chegg Writing, Chegg Math, and Busuu offerings that can be accessed internationally through the company's websites and on mobile devices, and Skills and Other, which encompasses skills, advertising services, print textbooks, and eTextbooks offerings.

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These Analysts Slash Their Forecasts On Chegg After Q2 Results

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ZoomInfo Reports Weak Results, Joins Chegg And Other Big Stocks Moving Lower In Tuesday&#39;s Pre-Market Session

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Why Palantir Technologies Shares Are Trading Higher By Around 10%; Here Are 20 Stocks Moving Premarket

Chegg Inc

Craig-Hallum analyst Alex Fuhrman maintains Chegg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) with a Hold and lowers the price target from $7 to $3.

Craig-Hallum Maintains Hold on Chegg, Lowers Price Target to $3

Goldman Sachs analyst Eric Sheridan upgrades Chegg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) from Sell to Neutral and lowers the price target from $7 to $3.75.

Upgrades

Goldman Sachs Upgrades Chegg to Neutral, Lowers Price Target to $3.75

Chegg, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) reported upbeat second-quarter financial results, but issued third-quarter revenue guidance <a href="https://www.benzinga.com/news/earnings/24/08/40173201/chegg-q2-earnings-revenue-eps-beat-but-soft-guidance-weighs-on-shares">below estimates on Monday</a>.
Chegg's second-quarter revenue decreased 11% year-over-year to $163.1 million, beating the consensus estimate of $159.98 million, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a> The company reported quarterly adjusted earnings of 28 cents per share, beating analyst estimates of 22 cents per share.
"Q2 has been transformational for Chegg, completing our restructure, outlining an exciting vision for the future, and completing the rollout of conversational instruction capability and automated solutions just in time for the back-to-school season," said Nathan Schultz, president and CEO of Chegg.
Chegg expects third-quarter revenue to be in the range of $133 million to $135 million. Subscription revenues are expected to be in the range of $116 million to $118 million. Third-quarter gross margin is expected to be between 67% and 68%. Chegg anticipates third-quarter adjusted EBITDA of $19 million to $21 million.
Chegg shares fell 22.5% to trade at $2.27 on Tuesday.
These analysts made changes to their price targets on Chegg following earnings announcement.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/595e9280988ca80001bd91e0/arvind-ramnani">Piper Sandler analyst Arvind Ramnani</a> maintained Chegg with an Underweight rating, while lowering the price target from $6 to $2.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5b194212d1c31b0001216c22/mike-grondahl">Northland Capital Markets analyst Mike Grondahl </a>maintained the stock with a Market Perform and lowered the price target from $7 to $6.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5e7b9f8a5f2b9b000115d436/josh-baer">Morgan Stanley analyst Josh Baer </a>maintained Chegg with an Equal-Weight rating, while cutting the price target from $3.25 to $3.</li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40191584/wall-streets-most-accurate-analysts-say-buy-these-3-tech-and-telecom-stocks-with-over-5-">Wall Street&#8217;s Most Accurate Analysts Say Buy These 3 Tech And Telecom Stocks With Over 5% Dividend Yields</a></li>
</ul>

Morgan Stanley analyst Josh Baer maintains Chegg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) with a Equal-Weight and lowers the price target from $3.25 to $3.

Morgan Stanley Maintains Equal-Weight on Chegg, Lowers Price Target to $3

Northland Capital Markets analyst Mike Grondahl maintains Chegg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) with a Market Perform and lowers the price target from $7 to $6.

Northland Capital Markets Maintains Market Perform on Chegg, Lowers Price Target to $6

WIIM

Chegg shares are trading lower after the company reported Q2 financial reuslts and issued Q3 revenue guidance below estimates. Also, Piper Sandler maintained an Underweight rating on the stock and lowered its price target from $6 to $2.

Piper Sandler analyst Arvind Ramnani maintains Chegg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) with a Underweight and lowers the price target from $6 to $2.

Piper Sandler Maintains Underweight on Chegg, Lowers Price Target to $2

U.S. stock futures were higher this morning, with the Dow futures gaining around 100 points on Tuesday.
Shares of ZoomInfo Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZI#NASDAQ">ZI</a>) shares declined 15.2% to $8.31 in pre-market trading after the company reported worse-than-expected financial results for the second quarter and <a href="https://www.benzinga.com/news/24/08/40173882/zoominfo-technologies-q2-earnings-revenue-miss-eps-miss-soft-guidance-cfo-transition-and-more">announced a management transition</a>.
The company announced that CFO Cameron Hyzer will step down from his role. Hyzer will remain in an advisory capacity until Oct. 7 to help facilitate a smooth transition. Graham O&#8217;Brien has been named interim CFO, effective Sept. 6.
ZoomInfo Technologies shares dipped 15.2% to $8.31 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Chegg Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) shares declined 18.7% to $2.38 in pre-market trading following second-quarter results.</li>
<li>Helport AI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HPAI#NASDAQ">HPAI</a>) shares fell 15.2% to $7.15 in pre-market trading after declining 24% on Monday.</li>
<li>Sumitomo Mitsui Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>) fell 10.5% to $10.80 in pre-market trading after declining around 4% on Monday.</li>
<li>Teradata Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDC#NYSE">TDC</a>) shares declined 8% to $26.83 in pre-market trading following weak quarterly sales.</li>
<li>Mizuho Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFG#NYSE">MFG</a>) fell 7% to $3.57 in pre-market trading after declining over 5% on Monday.</li>
<li>Mitsubishi UFJ Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUFG#NYSE">MUFG</a>) shares declined 5.6% to $8.96 in pre-market trading.</li>
<li>Cerus Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERS#NASDAQ">CERS</a>) fell 4.5% to $2.12 in pre-market trading following a 5% decline on Monday.</li>
<li>Sea Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SE#NYSE">SE</a>) shares slipped 3.6% to $57.78. Sea will announce its second quarter results before the opening bell on Aug. 13.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/08/40178833/dow-records-worst-day-in-around-2-years-mag-7-stocks-lose-650b-in-market-capitalization-greed-index">Dow Records Worst Day In Around 2 Years, Mag 7 Stocks Lose $650B In Market Capitalization: Greed Index Moves To &#8216;Extreme Fear&#8217; Zone</a></li>
</ul>

ZoomInfo Reports Weak Results, Joins Chegg And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

Needham analyst Ryan MacDonald reiterates Chegg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) with a Hold.

Reiteration

Needham Reiterates Hold on Chegg

Shares of Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) rose sharply in today's pre-market trading after the company reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/08/40172453/palantir-q2-earnings-revenue-beat-eps-beat-customer-count-up-41-driven-by-strength-in-us-commercial">second-quarter results</a>.
Palantir reported second-quarter revenue of $678.13 million, beating the consensus estimate of $652.1 million, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Palantir reported second-quarter adjusted earnings of 9 cents per share, beating analyst estimates of 8 cents per share.
Palantir Technologies shares surged 9.6% to $26.40 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Lytus Technologies Holdings PTV. Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYT#NASDAQ">LYT</a>) rose 79.1% to $2.56 in today's pre-market trading after dipping over 12% on Monday.</li>
<li>Lumen Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>) gained 44.8% to $3.75 in pre-market trading after the company announced it secured $5 billion in new business from companies seeking to quickly secure their fiber capacity.</li>
<li>CNS Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNSP#NASDAQ">CNSP</a>) gained 28.7% to $0.25 in pre-market trading after tumbling over 22% on Monday.</li>
<li>AgriFORCE Growing Systems Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGRI#NASDAQ">AGRI</a>) jumped 27% to $0.0725 in pre-market trading after falling more than 5% on Monday.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) shares gained 26.6% to $0.1570 in pre-market trading after dipping 18% on Monday.</li>
<li>Rxsight Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXST#NASDAQ">RXST</a>) shares gained 22.7% to $50.00 in pre-market trading after the company posted upbeat second-quarter sales and raised its FY24 revenue forecast.</li>
<li>Serve Robotics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) shares rose 15.3% to $15.70 in pre-market trading after falling around 7% on Monday.</li>
<li>Lucid Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) shares gained 13% to $3.39 in pre-market trading after the company reported better-than-expected second-quarter sales results and announced a $1.5 billion public investment fund commitment.</li>
<li>DDC Enterprise Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DDC#NYSE">DDC</a>) shares rose 10.8% to $0.5159 in pre-market trading following around 13% surge on Monday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>SunPower Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>) shares dipped 24.6% to $0.61 in pre-market trading. SunPower announced a $45 million asset sale to complete Solaria and filed Chapter 11 to maximize asset value.</li>
<li>Chegg Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) shares declined 18.7% to $2.38 in pre-market trading following second-quarter results.</li>
<li>Actinium Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATNM#NASDAQ">ATNM</a>) declined 15.3% to $2.10 in pre-market trading after dipping 60% on Monday. On Monday, the FDA determined that Actinium Pharmaceuticals&#8217; Phase 3 SIERRA trial is not adequate to support a Biologics License Application (BLA) filing for Iomab-B despite its statistically significant primary endpoint.</li>
<li>ZoomInfo Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZI#NASDAQ">ZI</a>) shares declined 15.2% to $8.31 in pre-market trading after the company reported worse-than-expected financial results for the second quarter and announced a management transition. The company announced that CFO Cameron Hyzer will step down from his role. Hyzer will remain in an advisory capacity until Oct. 7 to help facilitate a smooth transition. Graham O&#8217;Brien has been named interim CFO, effective Sept. 6.</li>
<li>Helport AI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HPAI#NASDAQ">HPAI</a>) shares fell 15.2% to $7.15 in pre-market trading after declining 24% on Monday.</li>
<li>TenX Keane Acquisition (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TENK#NASDAQ">TENK</a>) fell 14.1% to $31.00 pre-market trading. TenX Keane shares jumped 193% on Monday after shareholders approved the combination with Citius Pharma&#8217;s oncology subsidiary.</li>
<li>Upexi Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPXI#NASDAQ">UPXI</a>) fell 12.4% to $0.25 in today's pre-market trading.</li>
<li>Bluejay Diagnostics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJDX#NASDAQ">BJDX</a>) shares fell 11.8% to $0.4010 in pre-market trading after declining 18% on Monday.</li>
<li>Trio Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPET#NYSE">TPET</a>) shares fell 11.2% to $0.2594 in pre-market trading after gaining more than 19% on Monday.</li>
<li>Sumitomo Mitsui Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>) fell 10.5% to $10.80 in pre-market trading after declining around 4% on Monday.</li>
</ul>
Now Read This: 
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<li>D<a href="https://www.benzinga.com/news/earnings/24/08/40178833/dow-records-worst-day-in-around-2-years-mag-7-stocks-lose-650b-in-market-capitalization-greed-index">ow Records Worst Day In Around 2 Years, Mag 7 Stocks Lose $650B In Market Capitalization: Greed Index Moves To &#8216;Extreme Fear&#8217; Zone</a></li>
</ul>

Chegg Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) reported second-quarter financial results Monday after the bell. Here&#8217;s a look at the <a href="https://www.benzinga.com/pressreleases/24/08/b40170751/chegg-reports-2024-second-quarter-earnings">key metrics from the quarter</a>.
Q2 Earnings: Chegg&#8217;s second-quarter revenue decreased 11% year-over-year to $163.1 million, beating the&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $159.98&nbsp;million, according to&nbsp;<a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. The company reported quarterly adjusted earnings of 28 cents&nbsp;per share, beating analyst estimates of 22 cents&nbsp;per share.
Subscription services revenues decreased 11% year-over-year to $146.8 million. Subscription services subscribers fell 9% year-over-year to 4.4 million. Gross margin came in at 72% and adjusted gross margin was 75%.&nbsp;
&#8220;Q2 has been transformational for Chegg, completing our restructure, outlining an exciting vision for the future, and completing the rollout of conversational instruction capability and automated solutions just in time for the back-to-school season,&#8221; said Nathan Schultz, president and CEO of Chegg.
&#8220;We are executing our product vision to evolve Chegg from a solutions-based study platform to one that supports students holistically with 360 degrees of individualized academic and functional support, which meets the needs of the modern student.&#8221;
Guidance: Chegg expects third-quarter revenue to be in the range of $133 million to $135 million. Subscription revenues are expected to be in the range of $116 million to $118 million. Third-quarter gross margin is expected to be between 67% and 68%. Chegg anticipates third-quarter adjusted EBITDA of $19 million to $21 million.
A conference call covering these quarterly results kicked off at 4:30 p.m. ET.
See Also: <a href="https://www.benzinga.com/tech/24/08/40168436/will-investors-follow-warren-buffetts-lead-and-dump-apple-stock-heres-what-other-hedge-funds-are-doi">Will Investors Follow Warren Buffett&#8217;s Lead And Dump Apple Stock? Here&#8217;s What Other Hedge Funds Are Doing With Their Apple Shares</a>
CHGG Price Action: <a href="https://www.benzinga.com/quote/CHGG" target="_blank" rel="noreferrer noopener">Chegg shares</a> were down 16.38% in after hours, trading at $2.45 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

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Tech

Chegg Q2 Earnings: Revenue, EPS Beat, But Soft Guidance Weighs On Shares

Chegg Sees Q3 2024 Revenue $133M-$135M Vs $159.9M Estimate

Chegg shares are trading lower. The company reported Q2 financial results.

Chegg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) reported quarterly earnings of $0.28 per share which beat the analyst consensus estimate of $0.22 by 27.27 percent. The company reported quarterly sales of $163.10 million which beat the analyst consensus estimate of $159.98 million by 1.95 percent. This is a 10.80 percent decrease over sales of $182.85 million the same period last year.

Earnings Beats

Chegg Q2 2024 Adj EPS $0.28 Beats $0.22 Estimate, Sales $163.10M Beat $159.98M Estimate

We hit earnings season and with the Magnificent 7 priced for perfection, it was going to take &ldquo;perfect&rdquo; earnings reports to keep the market from falling. $GOOG&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) and $TSLA (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) showed some weakness and for the second straight week, tech leads the stock market lower. Coursera (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cour#NYSE">COUR</a>) beats earnings and positions itself as an AI play causing the stock to rise almost 45% on Friday. Las Vegas Sands $LVS&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lvs#NYSE">LVS</a>) slides on a temporary non-problem. We explain the situation. We get a strong GDP print and a higher-than-expected PCE. Many are saying the Fed will absolutely 100% cut rates in September. I think that&rsquo;s possible, but not nearly the certain outcome the market expects. Finally, Alex attends the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)&nbsp;conference and receives a warm welcome.
This week, we&rsquo;ll address the following topics:
<ul>
<li>
Coursera $COUR earnings better than expected. Stock up huge. New AI play?
</li>
<li>
Las Vegas Sands $LVS reports earnings and I disagree with the market reaction.
</li>
<li>
The Magnificent Seven &ndash; not again!
</li>
<li>
GDP comes in strong. Does that affect the probability of rate cuts?
</li>
<li>
PCE comes in slightly high. Does that affect the probability of rate cuts?
</li>
<li>
DKI Intern, Alex Petrou, attends the Bitcoin Conference and meets friendly and knowledgeable Bitcoin celebrities.&nbsp;
</li>
</ul>
Ready for another week of better earnings and higher inflation? Let&rsquo;s dive in:
<ul>
<li>
Coursera&nbsp;Enrolls 2MM in AI Courses &ndash; Market Thrilled:
</li>
</ul>
Coursera has been a frustrating stock at DKI. Initial skepticism centered around the expected loss of the Covid-lockdown business when many people took courses after they had watched everything available on Netflix (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>). Instead, the company kept that huge new base and continued to grow rapidly. Later, a slowing growth rate and poor results from competitor 2U (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/twou#NASDAQ">TWOU</a>) and non-competitor Chegg (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/chgg#NYSE">CHGG</a>) crushed the stock. Last week, Coursera announced revenue and earnings that beat expectations and enrolled 2MM new students into a variety of generative AI courses. 2U declared bankruptcy highlighting the difference between their poor business model and Coursera&rsquo;s more learner-friendly one.
<img alt="coursera_ppt_image_.jpg" src="https://www.benzinga.com/files/images/2024/July/31/coursera_ppt_image_.jpg" style="height:346px; width:624px" />
Many thought AI was a threat to Coursera&rsquo;s business. Teaching others how to use it is a source of growth. Slide from company presentation.
DKI Takeaway:&nbsp; Last quarter, $COUR warned about weaker growth due to delays some tech companies had in completing new certificate courses. With new AI-related courses from the mega-cap tech firms, these late arrivals are now a source of new growth. Revenue of $170MM beat prior guidance of $164MM at the midpoint and beat analyst estimates of $164MM. EPS of $.09 was above analyst estimates of $.01. The company completed a $95MM stock buyback retiring almost 3MM shares in the quarter. In order to keep full-year guidance unchanged, 3Q revenue guidance was $6MM below expectations. Given that&rsquo;s the identical amount of the 2Q beat, I think it&rsquo;s likely management took advantage of the opportunity to issue conservative guidance. The market liked what it saw, and as I write this, the stock is up 45% from yesterday&rsquo;s close. More details on the company and industry for subscribers <a href="https://deepknowledgeinvesting.com/coursera-cour-2q-24-earnings/">here</a> and <a href="https://deepknowledgeinvesting.com/the-2u-bankruptcy-whats-it-mean-for-coursera/">here</a>.
<ul>
<li>
I Disagree with the Market on Las Vegas Sands Earnings:
</li>
</ul>
Las Vegas Sands $LVS has been trading down on concerns regarding the Chinese economy as well as expectations of lower property level EBITDA in Macau. While China is facing its share of economic difficulties, mass and premium mass visitation in Macau are at/above pre-Covid levels. Similar to when the US relaxed its stay-at-home regulations, the Chinese gambler has a lot of pent-up bankroll and a desire to travel and return to prior fun activities. Two Macau properties had sequential declines in revenue. Part of that is explained by normal seasonality. Most of it is explained by a large number of rooms temporarily out of service due to renovations. Gaming resorts take a lot of hard use and also need to appear luxurious. Regular renovations are a normal and important part of the business. The rooms currently out of service will come back in better shape and with higher-than-average room rates.
<img alt="lvs_earnings_-_july_26th_2024.jpg" src="https://www.benzinga.com/files/images/2024/July/31/lvs_earnings_-_july_26th_2024.jpg" style="height:489px; width:624px" />
Continued recovery in Macau. Record results in Singapore. Slide from Sands presentation.
DKI Takeaway:&nbsp;I think actual results support my view on the company. Despite around 1,500 rooms out of service for renovations, Macau EBITDA was up from $541MM a year ago to $561MM this year. That&rsquo;s only going to improve when the newly renovated rooms are complete in the next six months. Singapore continues to post record results with $512MM in EBITDA. That&rsquo;s the best 2Q I&rsquo;ve seen in my quarterly model going back to 2016. $LVS restarted the dividend a couple of quarters ago and has been buying back huge amounts of stock. Between dividends and stock buybacks, the company has returned almost $1.2B of capital to shareholders so far this year. With Macau recovering, Singapore at record highs, and the current disruption being both temporary and planned, I think the market is too pessimistic on Sands.
<ul>
<li>
The Magnificent Seven&rsquo;s Magnificent Tumble:
</li>
</ul>
Last week, the decline in the Magnificent 7&rsquo;s (Mag 7) mega-cap sector was primarily driven by macroeconomic conditions and political factors. This week, the Mag 7 experienced further declines following disappointing earnings reports. Alphabet $GOOG, Google&rsquo;s parent company, missed estimates for YouTube&rsquo;s advertising revenue, leading to a drop in its stock price. Tesla $TSLA reported lower-than-expected earnings and a 45% decline in profits. Verizon $VZ, not part of the Mag 7, reported earnings below estimates, with a significant loss of 624,000 pay-as-you-go plans. This decline is particularly notable as it coincides with the drying up of stimulus funds from the Affordable Connectivity Program (ACP), a stimulus initiative aimed at assisting low-income households, which ended in April. DKI has been writing consistently about government spending on consumption.
<img alt="mag_7_-_july_26th_2024.jpg" src="https://www.benzinga.com/files/images/2024/July/31/mag_7_-_july_26th_2024.jpg" style="height:359px; width:624px" />
$NVDA, $TSLA, and $META all down 15%+ in two weeks.
DKI Takeaway:&nbsp;The Verizon earnings highlight how dependent our economy is on governmental stimulus spending. While artificial intelligence excitement has fueled a market boom, some of the high-performing mega cap tech companies were priced for perfection. $GOOG earnings weren&rsquo;t bad. It just doesn&rsquo;t take a lot of disappointment right now to cause stock price declines. On last week&rsquo;s 5 Things video version, I expressed concern about declining unit sales at Apple $APPL. Nvidia&rsquo;s $NVDA earnings report next week will provide the market a lot of direction about current AI expectations. This is also your regular reminder that massive numbers of Nvidia GPUs will require massive amounts of electricity. Do you own enough power generation and uranium in your portfolio?
<ul>
<li>High GDP and Rate Cuts?:</li>
</ul>
Second quarter GDP came in at 2.8%. That&rsquo;s both a healthy number and much higher than the 2.0% estimate. Does that mean we have a healthy economy? DKI has been emphasizing for a year and a half that we have a bifurcated economy. The private sector and many Americans are struggling. Private market job growth is nonexistent and people are having difficulty affording food, gas, and insurance. The government has been spraying trillions of dollars of inflation-causing consumption-focused stimulus into the economy which is the reason for this better-than-expected GDP print. Almost all job growth is coming in government positions or in industries funded by government. This spending is also causing inflation.
<img alt="real_gdp_-_july_26th_2024.jpg" src="https://www.benzinga.com/files/images/2024/July/31/real_gdp_-_july_26th_2024.jpg" style="height:431px; width:624px" />
It&rsquo;s a decent quarter, but so much of that is debt-funded govt. spending.
DKI Takeaway:&nbsp; The market is still assuming a near-100% probability of a September rate cut. While I acknowledge the Fed may choose to cut rates then, I continue to believe the probability of a rate cut that soon remains well under 100%. Many smart people, including economist and DKI Board Member, Michael &ldquo;Mish&rdquo; Shedlock @MishGEA, correctly point out that the private sector of the economy indicates we&rsquo;re already in a recession. I agree with Mish. Most Americans aren&rsquo;t doing well financially. However, Congressional stimulus overspending is leading to high GDP growth and continued inflation. That could cause the Fed to move more slowly than the market hopes and expects. This potential action will cause many in Congress to complain, but they&rsquo;re not even considering cutting spending and have no one to blame but themselves.
<ul>
<li>The PCE Comes in Slightly Higher than Expected:&nbsp;</li>
</ul>
Friday&rsquo;s PCE report came in a little higher than expected. PCE stands for Personal Consumption Expenditures and it&rsquo;s the preferred inflation metric used by the Fed. The annual increase of 2.5% was down 0.1% from last month and was above expectations for 2.4%. The Core PCE, which excludes food and energy, was flat at 2.6%. That was also above expectations of 2.5%. the report shows a continuation of prior trends with income rising slightly slower than inflation. Again, goods pricing was down a bit while sticky services prices were up 3.9% vs last year. The report also says food prices are up 1.4% vs last year. Is your grocery bill up only 1% this year?
<img alt="pce_core_-_july_26th_2024_five_things_logo.jpg" src="https://www.benzinga.com/files/images/2024/July/31/pce_core_-_july_26th_2024_five_things_logo.jpg" style="height:379px; width:624px" />
Not a disaster, but also not declining as quickly as hoped.
<img alt="pce_aggregate_-_july_26th_2024_five_things_logo.jpg" src="https://www.benzinga.com/files/images/2024/July/31/pce_aggregate_-_july_26th_2024_five_things_logo.jpg" style="height:309px; width:624px" />
To the economists who think Americans should be more grateful for disinflation:&nbsp; This is why people are upset about price levels.
DKI Takeaway: As of now, the market is still saying there&rsquo;s an almost 100% probability of a September rate cut. That could happen, but I think the probability of that is below 100% for four reasons; continued inflation above 2%, aggregate GDP numbers that are still strong due to massive government stimulus spending that&rsquo;s causing inflation, market participants have been predicting rate cuts for over two years and have been wrong (it&rsquo;s not a predictive metric), and when the market is assigning a 100% probability of something, it&rsquo;s easy to take the under. Higher for longer (probably!).
<ul>
<li>Alex Goes to the Bitcoin Conference &ndash; Meets People:</li>
</ul>
DKI Intern, Alex Petrou, made his first trip to the US this week, and due to a fire in the JFK (New York) airport, had an unexpected layover. Fortunately, I live nearby and had the opportunity to host Alex on Wednesday night. He was up at 4:30am on Thursday and made his flight to Nashville where he connected with @Peruvian_Bull (PB). I&rsquo;m a fan of PB&rsquo;s work, and Alex interned for him last year. At the conference, Alex attended a panel including PB, Dylan LeClair, known for his role in MetaPlanets&rsquo; Bitcoin strategy, and Allen Farrington, a writer from Scotland. One of these luminaries helped get Alex&rsquo;s conference pass upgraded, and he was able to check out everything from new cold storage solutions to Bitcoin hot sauce stands. I understand cold storage, but am mystified regarding the concept of Bitcoin hot sauce. Many of you may feel the opposite. At these exhibits, Alex met <a href="https://www.youtube.com/watch?v=Cw29h7LhEuE">Davinci Jeremie who publicly suggested</a> people put at least a very small amount of their assets in Bitcoin &ndash; 11 years ago!
DKI Takeaway: I believe Alex is DKI&rsquo;s 9th Intern. In many ways, learning to invest is much easier now than it was when I was in college. There are videos, presentations, an active Fin-X community, and incredible access to the detailed thinking of top money managers and economists. Each one of these young people has spent hundreds of hours in their free time to educate themselves and learn about investing outside of their classrooms. They have drive and integrity. They expect to work for everything they receive. Every one of them has graduated with a real job in finance and I&rsquo;m proud of each of them. Alex and Andrew Brown both have an advanced understanding of the problems inherent in fiat currency and understand how more government control of our money leads to inflation, lower living standards, and reduced freedom. I&rsquo;m thrilled to see Alex at the Bitcoin conference connecting with and learning from other Bitcoiners. It wouldn&rsquo;t surprise me to see him become a speaker there one day. A note of appreciation from DKI to @Peruvian_Bull, Dylan LeClair, Allen Farrington, and Davinci Jeremie for warmly welcoming and educating those who came after them. I&rsquo;m writing this on Saturday morning and many expect President Trump to announce a Bitcoin Strategic Reserve should he win the election in November. My home state of Michigan just announced it has $6.6MM of Bitcoin in its pension funds. I think we&rsquo;re going to see more of these announcements in the next few years. DKI&rsquo;s response:&nbsp; hodl.
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.

Penny Stocks

Small Cap

General

$BTC

COUR

GOOG

NFLX

TSLA

TWOU

5 Things To Know In Investing This Week: The Earnings And Inflation Issue

Shares of The Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) fell sharply during Tuesday's session following <a href="https://www.benzinga.com/quote/SCHW/earnings">second-quarter results.</a>
Charles Schwab said adjusted net income declined 2% Y/Y to $1.465 billion. Adjusted EPS fell 3% Y/Y to 73 cents, beating the consensus of 72 cents, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Charles Schwab shares dipped 7.5% to $69.42 on Tuesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Yoshitsu Co., Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TKLF#NASDAQ">TKLF</a>) jumped 109% to $0.6437 after the company reported a year-over-year increase in FY24 financial results.</li>
<li>Silo Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SILO#NASDAQ">SILO</a>) shares climbed 95.4% to $2.12 after the company obtained an exclusive global license to develop, manufacture, and commercialize its Alzheimer&#8217;s drug.</li>
<li>Logistic Properties of the Americas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>) shares climbed 53.8% to $23.71.</li>
<li>NaaS Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAAS#NASDAQ">NAAS</a>) gained 38% to $3.8503.</li>
<li>Virpax Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRPX#NASDAQ">VRPX</a>) gained 38% to $1.4799.</li>
<li>AEON Biopharma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEON#NYSE">AEON</a>) shares rose 29.2% to $2.9450 after jumping around 63% on Monday.</li>
<li>Conduit Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDT#NASDAQ">CDT</a>) gained 27.3% to $0.3055 after declining over 8% on Monday.</li>
<li>AngioDynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANGO#NASDAQ">ANGO</a>) surged 24.7% to $7.39 after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance.</li>
<li>KWESST Micro Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KWE#NASDAQ">KWE</a>) gained 22.8% to $0.4160</li>
<li>Zenvia Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENV#NASDAQ">ZENV</a>) climbed 22.7% to $1.9634. The company announced that it entered into an agreement with Alliance Global Partners to offer and sell Class A common shares up to $20 million.</li>
<li>Locafy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCFY#NASDAQ">LCFY</a>) rose 21% to $4.4150.</li>
<li>SciSparc Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPRC#NASDAQ">SPRC</a>) gained 20% to $1.0150.</li>
<li>Koss Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOSS#NASDAQ">KOSS</a>) rose 19.8% to $10.45.</li>
<li>Alpha Technology Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATGL#NASDAQ">ATGL</a>) climbed 19.2% to $3.42.</li>
<li>Meiwu Technology Company Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WNW#NASDAQ">WNW</a>) shares rose 16.1% to $1.01 after surging around 15% on Monday.</li>
<li>NetSol Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTWK#NASDAQ">NTWK</a>) climbed 16% to $3.0501 as the company signed a $16 million agreement with a major automaker to revolutionize digital car buying and leasing experience in the United States.</li>
<li>Chegg, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) gained 15% to $3.6440. Morgan Stanley analyst Josh Baer upgraded Chegg from Underweight to Equal-Weight and lowered the price target from $6.5 to $3.25.</li>
<li>8&#215;8, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EGHT#NASDAQ">EGHT</a>) gained 13.3% to $2.8450. 8&#215;8. secured a $200 million term loan at reduced interest rate.</li>
<li>Fate Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FATE#NASDAQ">FATE</a>) gained 12.8% to $4.39.</li>
<li>Pacific Biosciences of California, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACB#NASDAQ">PACB</a>) rose 12.8% to $1.8350. PacBio is expected to hold its quarterly conference call to discuss its second quarter financial results on Wednesday, Aug. 7.</li>
<li>Newegg Commerce, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEGG#NASDAQ">NEGG</a>) gained 11.8% to $1.14.</li>
<li>Harmony Gold Mining Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMY#NYSE">HMY</a>) jumped 11.8% to $10.57</li>
<li>Sana Biotechnology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANA#NASDAQ">SANA</a>) surged 11.7% to $7.11.</li>
<li>ServisFirst Bancshares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NASDAQ">SFBS</a>) climbed 10.8% to $78.60 after the company reported better-than-expected second-quarter financial result. Also, Piper Sandler maintained a Neutral rating on the stock and raised its price target from $63 to $70.</li>
<li>Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) rose 7.9% to $34.54 after Starboard Value sent a letter to the company outlining initiatives for improving growth, profitability and capital allocation.</li>
<li>Arvinas, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARVN#NASDAQ">ARVN</a>) gained 7.7% to $32.27.</li>
<li>Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) shares rose 7.3% to $68.92 after B of A Securities upgraded the stock from Neutral to Buy.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Cyngn Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYN#NASDAQ">CYN</a>) shares fell 22.1% to $7.15 after jumping 54% on Monday.</li>
<li>Autonomix Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMIX#NASDAQ">AMIX</a>) shares declined 21.4% to $1.08. Autonomix shares jumped 130% on Monday after the company entered into an agreement with RF Innovations to license intellectual property for its Apex 6 Radiofrequency Generator.</li>
<li>Zeo Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEO#NASDAQ">ZEO</a>) fell 18% to $3.23.</li>
<li>Clearmind Medicine Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMND#NASDAQ">CMND</a>) fell 16.7% to $1.85. Clearmind Medicine announced the FDA clearance for IND application of MEAI-based CMND-100 oral capsule.</li>
<li>Crown LNG Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGBS#NASDAQ">CGBS</a>) declined 15.8% to $2.65.</li>
<li>Funko, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FNKO#NASDAQ">FNKO</a>) shares fell 13.3% to $8.71.</li>
<li>Shapeways Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHPW#NASDAQ">SHPW</a>) fell 13.2% to $0.3010.</li>
<li>Vicinity Motor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEV#NASDAQ">VEV</a>) shares dipped 12.8% to $0.5581 after dipping 10% on Monday.</li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares fell 8.7% to $37.04. Trump Media &amp; Technology Group shares jumped over 31% on Monday following the attempted assassination of Donald Trump.</li>
<li>Greenpro Capital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRNQ#NASDAQ">GRNQ</a>) shares fell 8.5% to $1.08. Greenpro Capital shares surged around 35% on Monday after the company announced that its subsidiary, Green-X, secured over $100 million in digital assets.</li>
<li>Grom Social Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GROM#NASDAQ">GROM</a>) shares declined 7.8% to $0.3945 after gaining around 10% on Monday.</li>
<li>Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) fell 7.1% to $67.83 after Loop Capital downgraded the stock from Buy to Hold.</li>
<li>Eos Energy Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOSE#NASDAQ">EOSE</a>) fell 7% to $1.9150.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39792248/jim-cramer-says-if-you-sell-this-chinese-ev-stock-now-some-clown-will-be-real-posit">Jim Cramer Says If You Sell This Chinese EV Stock Now, &#8216;Some Clown&#8217; Will Be &#8216;Real Positive About It,&#8217; Wait Until &#8216;All That Stuff Happens</a><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39792248/jim-cramer-says-if-you-sell-this-chinese-ev-stock-now-some-clown-will-be-real-posit">&#8216;</a></li>
</ul>

Intraday Update

AEON

AMIX

ANGO

ARVN

ATGL

CGBS

CMND

EGHT

EOSE

FATE

FNKO

GRNQ

GROM

KOSS

LCFY

MTCH

NAAS

NEGG

NTWK

PACB

RDDT

SANA

SCHW

SFBS

SHOP

SHPW

SILO

SPRC

TKLF

VRPX

ZENV

Why Charles Schwab Shares Are Trading Lower By Over 7%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

U.S. stocks were mostly higher, with the Dow Jones index gaining around 550 points on Tuesday.
Shares of UnitedHealth Group Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) rose sharply during Tuesday's session following a <a href="https://www.benzinga.com/news/earnings/24/07/39790051/unitedhealth-q2-earnings-revenue-and-eps-beat-lifts-cyberattack-impact-estimate-reaffirms-profit-ou">second-quarter earnings beat.</a>
The company reported adjusted EPS of $6.80, up from $6.14 a year ago, beating the consensus of $6.66, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. UnitedHealth&#8217;s revenues increased nearly $6 billion (+6.4% Y/Y) to $98.86 billion, beating the consensus of $98.34 billion, led by expansion in people served domestically at Optum and UnitedHealthcare.
UnitedHealth Group shares gained 5.7% to $544.96 on Tuesday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>Logistic Properties of the Americas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>) shares surged 53.8% to $23.71.</li>
<li>AngioDynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANGO#NASDAQ">ANGO</a>) shares gained 24.7% to $7.39 after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance.</li>
<li>Chegg, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) jumped 15% to $3.6440. Morgan Stanley analyst Josh Baer upgraded Chegg from Underweight to Equal-Weight and lowered the price target from $6.5 to $3.25.</li>
<li>8&#215;8, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EGHT#NASDAQ">EGHT</a>) rose 13.3% to $2.8450. 8&#215;8. secured a $200 million term loan at reduced interest rate.</li>
<li>Fate Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FATE#NASDAQ">FATE</a>) climbed 12.8% to $4.39.</li>
<li>Pacific Biosciences of California, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACB#NASDAQ">PACB</a>) gained 12.8% to $1.8350. PacBio is expected to hold its quarterly conference call to discuss its second quarter financial results on Wednesday, Aug. 7.</li>
<li>Newegg Commerce, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEGG#NASDAQ">NEGG</a>) rose 11.8% to $1.14.</li>
<li>Harmony Gold Mining Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMY#NYSE">HMY</a>) climbed 11.8% to $10.57</li>
<li>ServisFirst Bancshares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NASDAQ">SFBS</a>) gained 10.8% to $78.60 after the company reported better-than-expected second-quarter financial result. Also, Piper Sandler maintained a Neutral rating on the stock and raised its price target from $63 to $70.</li>
<li>Wheels Up Experience Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UP#NYSE">UP</a>) rose 10.3% to $3.98.</li>
<li>Janux Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JANX#NASDAQ">JANX</a>) jumped 9.7% to $47.69.</li>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) rose 8.1% to $16.34.</li>
<li>Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) gained 7.9% to $34.54 after Starboard Value sent a letter to the company outlining initiatives for improving growth, profitability and capital allocation.</li>
<li>Arvinas, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARVN#NASDAQ">ARVN</a>) shares climbed 7.7% to $32.27.</li>
<li>Dream Finders Homes, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFH#NYSE">DFH</a>) rose 7.5% to $30.29.</li>
<li>Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) shares gained 7.3% to $68.92 after B of A Securities upgraded the stock from Neutral to Buy.</li>
<li>Tempus AI, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) rose 7% to $39.15. Tempus expanded immuno-oncology portfolio with the launch of AI-enabled, multimodal immune profile algorithmic tests.</li>
<li>Newell Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>) gained 6.7% to $6.70. Newell Brands is expected to release its second quarter 2024 earnings results on Friday, July 26.</li>
<li>The Scotts Miracle-Gro Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMG#NYSE">SMG</a>) rose 5.7% to $65.56.</li>
<li>Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) rose 5% to $43.99 following upbeat quarterly results.</li>
<li>American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) gained 4.7% to $11.13.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39790965/top-3-health-care-stocks-that-should-keep-you-up-at-night-this-quarter">Top 3 Health Care Stocks That Should Keep You Up At Night This Quarter</a></li>
</ul>

JANX

NVAX

UnitedHealth Posts Better-Than-Expected Earnings, Joins AngioDynamics, Bank of America  And Other Big Stocks Moving Higher On Tuesday

Chegg shares are trading higher after Morgan Stanley upgraded the stock from Underweight to Equal-Weight.

Shares of Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) rose sharply in <a href="https://www.benzinga.com/markets/equities/24/07/39785537/tinder-parent-match-group-soars-nearly-9-in-after-hours-trading-as-activist-hedge-fund-starboard">today's pre-market trading</a>.
Starboard Value has taken a keen interest in Match Group. The hedge fund has accumulated a stake of over 6.5% in the online dating company and is advocating for a potential sale if the company's performance does not improve, The Wall Street Journal reported on Monday, citing people familiar with the matter.
Match Group shares jumped 8% to $34.56 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Conduit Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDT#NASDAQ">CDT</a>) gained 89.8% to $0.4556 in pre-market trading after declining over 8% on Monday.</li>
<li>Meiwu Technology Company Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WNW#NASDAQ">WNW</a>) shares rose 46% to $1.27 in pre-market trading after surging around 15% on Monday.</li>
<li>AEON Biopharma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEON#NYSE">AEON</a>) shares rose 17.1% to $2.67 in pre-market trading after jumping around 63% on Monday.</li>
<li>36Kr Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRKR#NASDAQ">KRKR</a>) rose 11.1% to $0.33 in pre-market trading. 36Kr Holdings said it has entered into a strategic partnership with Zhi-Tech Group to broaden its business expansion and commercialization initiatives.</li>
<li>ConnectM Technology Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNTM#NASDAQ">CNTM</a>) gained 11% to $2.54 in pre-market trading after dipping 35% on Monday.</li>
<li>AgEagle Aerial Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAVS#NASDAQ">UAVS</a>) shares gained 9.1% to $0.4990 in pre-market trading after declining around 5% on Monday.</li>
<li>Siebert Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIEB#NASDAQ">SIEB</a>) shares climbed 8.6% to $1.89 in pre-market trading.</li>
<li>Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) shares surged 8.6% to $2.76 in pre-market trading. Opendoor Technologies is expected to report second quarter financial results after the closing bell on Thursday, Aug. 1.</li>
<li>Chegg, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) gained 5.4% to $3.34 in pre-market trading. Morgan Stanley analyst Josh Baer upgraded Chegg from Underweight to Equal-Weight and lowered the price target from $6.5 to $3.25.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Greenpro Capital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRNQ#NASDAQ">GRNQ</a>) shares fell 20.5% to $0.9384 in pre-market trading. Greenpro Capital shares surged around 35% on Monday after the company announced that its subsidiary, Green-X, secured over $100 million in digital assets.</li>
<li>Autonomix Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMIX#NASDAQ">AMIX</a>) shares declined 17.4% to $1.14 in pre-market trading. Autonomix shares jumped 130% on Monday after the company entered into an agreement with RF Innovations to license intellectual property for its Apex 6 Radiofrequency Generator.</li>
<li>American Rebel Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AREB#NASDAQ">AREB</a>) shares fell 17.4% to $0.5550 in pre-market trading after jumping 29% on Monday.</li>
<li>Cyngn Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYN#NASDAQ">CYN</a>) shares fell 15% to $7.80 in pre-market trading after jumping 54% on Monday.</li>
<li>DatChat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DATS#NASDAQ">DATS</a>) fell 12.2% to $1.66 in pre-market trading. Shares of DatChat jumped around 78% on Monday possibly after the attempted assassination of former President Donald Trump over the weekend.</li>
<li>Qualigen Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLGN#NASDAQ">QLGN</a>) shares fell 9.7% to $0.3493 in pre-market trading after dipping more than 10% on Monday.</li>
<li>Vicinity Motor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEV#NASDAQ">VEV</a>) shares dipped 10.8% to $0.57 in pre-market trading after dipping 10% on Monday.</li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares fell 8.8% to $37.03 in pre-market trading. Trump Media &amp; Technology Group shares jumped over 31% on Monday following the attempted assassination of Donald Trump.</li>
<li>Anavex Life Sciences Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVXL#NASDAQ">AVXL</a>) fell 7% to $5.43 in pre-market trading after surging 8% on Monday.</li>
<li>Grom Social Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GROM#NASDAQ">GROM</a>) shares declined 6.5% to $0.40 in pre-market trading after gaining around 10% on Monday.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39770427/top-5-consumer-stocks-that-may-explode-in-q3">Top 5 Consumer Stocks That May Explode In Q3</a>

AREB

AVXL

CNTM

DATS

KRKR

OPEN

Qualigen Therapeutics, Inc. - Common Stock

QLGN

SIEB

UAVS

Why Match Group Shares Are Trading Higher; Here Are 20 Stocks Moving Premarket

Morgan Stanley analyst Josh Baer upgrades Chegg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) from Underweight to Equal-Weight and lowers the price target from $6.5 to $3.25.

Morgan Stanley Upgrades Chegg to Equal-Weight, Lowers Price Target to $3.25

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Chegg&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/chgg-stock-quote/">CHGG</a>) stock is falling hard on Tuesday after the direct-to-student learning platform company released its <a href="https://finance.yahoo.com/news/chegg-reports-2024-second-quarter-200500172.html">latest earnings report</a>.



In the second quarter of 2024, Chegg released an updated guidance for the third quarter of the year. This has it expecting revenue for the quarter to range from $133 million to $135 million. Investors aren&rsquo;t happy about that when comparing it to Wall Street&rsquo;s estimate of $143.05 million.



Here&rsquo;s what Chegg Chief Financial Officer David Longo said about this guidance.




&ldquo;While these numbers are not where we want them to be, like many companies in the ed-tech space, we are dealing with the challenges of the changing landscape. We are working to implement the vision to get us back to growth, but it will take some time before we see the benefits.&rdquo;




<h2>Q2 Beats Can&rsquo;t Save CHGG Stock</h2>



That poor outlook is pulling CHGG stock down despite its beats for the second quarter of the year. That includes EPS of 24 cents and revenue of $163.15 million. Both of these are above Wall Street&rsquo;s estimates of 23 cents per share and revenue of $160.02 million.



CHGG stock is down 23.9% as of Tuesday afternoon. The stock is also down 80.1% year-to-date.



We have more of the most recent stock market stories ready to go on Tuesday! That includes all of the latest happenings affecting shares of Sangamo Therapeutics&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/sgmo-stock-quote/">SGMO</a>) stock, Lucid&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/lcid-stock-quote/">LCID</a>) stock and Jumia Technologies&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/jmia-stock-quote/">JMIA</a>) stock today. You can read up on all of these matters at the links below!



<h2>More Stock Market News for Tuesday</h2>



<ul><li><a href="https://investorplace.com/2024/08/why-is-sangamo-therapeutics-sgmo-stock-up-52-today/">Why Is Sangamo Therapeutics (SGMO) Stock Up 52% Today?</a></li>



<li><a href="https://investorplace.com/2024/08/cantor-fitzgerald-just-upgraded-lucid-lcid-stock/">Cantor Fitzgerald Just Upgraded Lucid (LCID) Stock</a></li>



<li><a href="https://investorplace.com/2024/08/jumia-technologies-news-why-is-jmia-stock-plunging-today/">Jumia Technologies News: Why Is JMIA Stock Plunging Today?</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<h3>More From InvestorPlace</h3>
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						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget AI... THIS Technology Is the Future&rdquo;</a>
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									</ul>The post <a href="https://investorplace.com/2024/08/chegg-news-why-is-chgg-stock-plunging-today/">Chegg News: Why Is CHGG Stock Plunging Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Chegg News: Why Is CHGG Stock Plunging Today?

Chegg: AI Turnaround In The Works

Jeffrey Silber, an analyst from BMO Capital, reiterated the Hold rating on Chegg (CHGG – Research Report). The associated price target remains the ...

Maintaining Hold on Chegg Amid Mixed Financial Performance and Market Challenges

The EdTech industry is expanding due to the digital transformation of traditional teaching and the increasing demand for online learning solutions. So, let's analyze Chegg (CHGG) and Afya Limited (AFYA) to determine which EdTech stock will school the competition. Read more... The EdTech market encompasses technological solutions designed to enhance educational processes, including online learning platforms and virtual classrooms. The rise in demand for online learning is driven by changes in education and the digital transformation of traditional teaching, highlighting the need for flexible, accessible education for various learning styles.
According to Cognitive Market Research, the global EdTech market is expected to expand at a <a href="https://www.cognitivemarketresearch.com/edtech-market-report">CAGR of 14%</a> by 2031.
Additionally, the <a href="https://www.skyquestt.com/report/online-education-market">digitization of education</a> has increased the use of advanced technologies like smartphones in learning. GSMA Intelligence reports that almost 300 million people have recently accessed the internet for the first time, growing the market's potential. Tablets are anticipated to be the primary educational devices due to their compatibility with various software tools.
Against this backdrop, let's compare two EdTech stocks, Chegg, Inc. (<a href="https://stocknews.com/stock/CHGG/">CHGG</a>) and Afya Limited (<a href="https://stocknews.com/stock/AFYA/">AFYA</a>), to analyze which EdTech stock will school the competition.
The Case for Chegg, Inc. stock
Valued at $236.37 million by market cap, Chegg, Inc. (<a href="https://stocknews.com/stock/CHGG/">CHGG</a>) operates a direct-to-student learning platform that helps learners build essential life and job skills to accelerate their path from learning programs internationally. Its subscription services include Chegg Study, Tinger Gold, DashPash Student services, Chegg Writing, Chegg Math, Chegg Study Pack, and Busuu.
CHGG's stock has declined 78.3% over the past year to close the last trading session at $2.28.
In terms of the trailing-12-month gross profit margin, CHGG's 73.21% is 99.7% higher than the 36.66% industry average. Likewise, its 12.71% trailing-12-month <a href="https://www.investopedia.com/terms/e/ebitda-margin.asp">EBITDA margin</a> is 12% higher than the industry average of 11.35%. However, its 0.44x trailing-12-month asset turnover ratio is 55.1% lower than the industry average of 0.99x.
CHGG's revenues for the second quarter that ended June 30, 2024, were reported at $163.15 million. However, its adjusted EBITDA declined 8.1% from the year-ago value to $44.10 million. The company's non-GAAP net income and non-GAAP EPS came in at $26.50 million and $0.24, down 26.3% and 14.3% from the prior year's quarter, respectively.
Street expects CHGG's revenue for the quarter ending September 2024 to decline 15% year-over-year to $134.12 million. The company's EPS for the same quarter is expected to decline 55.6% year-over-year to $0.08. However, the company surpassed consensus revenue estimates in each of the trailing four quarters.
CHGG's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its neutral outlook. The stock has an overall rating of C, which translates to a Neutral in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
It has a C grade for Momentum and Growth. Within the <a href="https://stocknews.com/category/internet/">Internet</a> industry, it is ranked #28 out of 51 stocks. To see the additional grades of CHGG for Value, Sentiment, Stability, and Quality, <a href="https://stocknews.com/stock/CHGG/">click here</a>.
The Case for Afya Limited Stock
Valued at $1.46 billion by market cap, Afya Limited (<a href="https://stocknews.com/stock/AFYA/">AFYA</a>) operates as a medical education group in Brazil. The company operates through three segments: Undergrad; Continuing Education; and Digital Services. The company is based in Nova Lima, Brazil.
AFYA's stock has gained 7.7% over the past year to close the last trading session at $16.56.
In terms of the trailing-12-month EBIT margin, AFYA's 28.25% is 265.9% higher than the 7.72% industry average. Likewise, its 61.90% trailing-12-month gross profit margin is 68.9% higher than the 36.66% industry average.
AFYA's net revenue for the first quarter that ended March 31, 2024, rose 13.3% year-over-year to R$804.24 million ($141.31 million). Its adjusted EBITDA increased 20.5% year-over-year to R$397.85 million ($69.90 million).
Likewise, the company's adjusted net income grew 50.8% year-over-year to R$250.97 million ($44.10 million). Also, its adjusted earnings per share increased 54.4% year-over-year to R$2.74.
Street expects AFYA's EPS for the second quarter ended June 2024 to increase 18.3% year-over-year to $0.34. Moreover, the company surpassed consensus revenue and EPS estimates in each of the trailing four quarters.
AFYA's strong fundamentals are reflected in its POWR Ratings. The stock has an overall B rating, translating to a Buy in our proprietary rating system.
AFYA has a B grade for growth, Sentiment, and Quality. It is ranked #6 out of 19 stocks in the A-rated <a href="https://stocknews.com/category/outsourcing-education-services/">Outsourcing - Education Services</a> industry.
<a href="https://stocknews.com/stock/AFYA/">Click here</a> for the additional POWR Ratings for AFYA (Value, Stability, and Momentum).
Chegg (CHGG) vs. Afya Limited (AFYA): Which EdTech Stock Will School the Competition?
The EdTech market is growing due to the rising demand for online learning, rapid tech advancements, the importance of lifelong learning, expanding digital infrastructure, increased government support, flexible work arrangements, and innovative gamification strategies.
Both CHGG and AFYA stand to capitalize on these burgeoning industry trends. However, AFYA's higher profitability and strong analysts' sentiments favor it as the better EdTech stock pick.
Our research shows that the odds of success increase when one invests in stocks with an Overall Rating of Strong Buy or Buy. View all the top-rated stocks in the Internet industry <a href="https://stocknews.com/category/internet/">here</a> and the Outsourcing - Education Services industry <a href="https://stocknews.com/category/outsourcing-education-services/">here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
AFYA shares were trading at $16.89 per share on Wednesday afternoon, up $0.33 (+1.99%). Year-to-date, AFYA has declined -22.98%, versus a 10.21% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Nidhi Agarwal</h2> <img src='https:/wp-content/uploads/2023/03/Nidhi-Agarwal_Headshot-3.jpg' style="float:left; padding:5px;width:125px;">Nidhi is passionate about the capital market and wealth management, which led her to pursue a career as an investment analyst. She holds a bachelor's degree in finance and marketing and is pursuing the CFA program.

Her fundamental approach to analyzing stocks helps investors identify the best investment opportunities.<a href="https://stocknews.com/authors/?author=nidhi-agarwal">More...</a>The post <a href=https://stocknews.com/news/afya-chgg-chegg-chgg-vs-afya-limited-afya-which-edtech-stock-will/>Chegg (CHGG) vs. Afya Limited (AFYA): Which EdTech Stock Will School the Competition?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Chegg (CHGG) vs. Afya Limited (AFYA): Which EdTech Stock Will School the Competition?

Catalyst Watch: Eyes on Walmart earnings, the July CPI print, and 13F filings

Chegg: No Major Signs Of Turnaround Yet

Chegg: New Investments In AI, Stock Is Very Undervalued

Stock Picks From Seeking Alpha's August 2024 New Analysts

Global enterprises are increasingly leveraging the internet to promote and deliver products and services, driving sales and aligning with the evolving digital landscape. This expansion creates compelling investment opportunities, making tech stocks like Chegg (CHGG), LegalZoom.com (LZ), and trivago (TRVG), all under $10, potentially poised to skyrocket. Read on... As internet access expands globally, the tech sector continues to thrive, fueled by groundbreaking innovations in AI, cloud computing, and cybersecurity. These advancements are transforming learning platforms, search engines, and legal and compliance solutions, driving the industry's growth and impact.
Hence, investors might consider investing in fundamentally robust tech stocks such as Chegg, Inc. (<a href="https://stocknews.com/stock/CHGG/">CHGG</a>), LegalZoom.com, Inc. (<a href="https://stocknews.com/stock/LZ/">LZ</a>), and trivago N.V. (<a href="https://stocknews.com/stock/TRVG/">TRVG</a>), all priced under $10, which could potentially skyrocket.
The rapid growth of global internet users, especially via smartphones, is driving demand for convenient, accessible solutions. Companies are responding with innovations in travel navigation, education technology, and customer service platforms. This surge in internet usage is transforming these markets, fueling growth and opportunities within the tech industry.
Moreover, Gartner predicts a <a href="https://www.gartner.com/en/newsroom/press-releases/2024-04-16-gartner-forecast-worldwide-it-spending-to-grow-8-percent-in-2024">9.7% rise</a> in IT services spending, reaching $1.52 trillion this year, as businesses leverage the internet through digital expansion, subscription commerce, generative AI personalization, and interactive Progressive Web Apps. Consequently, the global internet services market is expected to grow at a 4.4% CAGR, reaching <a href="https://www.businessresearchinsights.com/market-reports/internet-service-market-104518">$733.79 billion by 2031</a>.
Considering these conducive trends, let's assess the fundamentals of the abovementioned tech stocks.
Stock #3: Chegg, Inc. (<a href="https://stocknews.com/stock/CHGG/">CHGG</a>)
CHGG operates a direct-to-student learning platform that helps learners build essential life and job skills to accelerate their path from learning programs internationally. Its subscription services include Chegg Study, Tinger Gold, DashPash Student services, Chegg Writing, Chegg Math, Chegg Study Pack, and Busuu.
On August 5, 2024, CHGG announced a partnership with Max, adding the Max with Ads plan to its Perks program for U.S. Chegg Study and Study Pack subscribers. This allows students to stream popular shows and movies as part of their subscription.
In terms of the trailing-12-month gross profit margin, CHGG's 73.40% is 98.1% higher than the 37.05% industry average. Its 8.58% trailing-12-month <a href="https://www.investopedia.com/terms/l/levered-free-cash-flow.asp">levered FCF</a> margin is 67.1% higher than the 5.14% industry average. Moreover, CHGG's 13.90% trailing-12-month Capex / Sales is 369.5% higher than the 2.96% industry average.
CHGG's revenues for the second quarter ended June 30, 2024, were $163.15 million. Likewise, its adjusted EBITDA stood at $44.10 million. The company's non-GAAP net income and non-GAAP EPS were $26.50 million and $0.24, respectively. CHGG's total current assets as of June 30, 2024, were $433.55 million, compared to $414.84 million as of December 31, 2023.
Street expects CHGG's EPS for fiscal 2025 to increase 17.3% year-over-year to $0.99. It surpassed the Street EPS estimates in three of the trailing four quarters. Over the past month, the stock has declined 8.6% to close the last trading session at $1.92.
CHGG's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect strong prospects. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It is ranked #38 out of 53 stocks in the B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry. It has an A grade for Value and a B for Growth. <a href="https://stocknews.com/stock/CHGG/">Click here</a> to see CHGG's ratings for Momentum, Stability, Sentiment, and Quality.
Stock #2: LegalZoom.com, Inc. (<a href="https://stocknews.com/stock/LZ/">LZ</a>)
LZ operates an online platform for legal and compliance solutions. The company's platform offers products and services, including business formations, creating estate planning documents, protecting intellectual property, completing certain forms and agreements, providing access to independent attorney advice, and connecting customers with experts for tax preparation and bookkeeping services.
On June 25, 2024, LZ announced a partnership with BusinessLoans.com to enhance access to capital for small businesses. This collaboration will integrate BusinessLoans.com's funding solutions within the LZ's platform, offering streamlined loan options and financial support to entrepreneurs.
In terms of the trailing-12-month gross profit margin, LZ's 63.40% is 102.4% higher than the 31.33% industry average. Likewise, its 12.35% trailing-12-month levered FCF margin is 89.7% higher than the 6.51% industry average. Furthermore, its 1.68x trailing-12-month asset turnover ratio is 114.3% higher than the 0.78x industry average.
In the second quarter ending June 30, 2024, LZ's revenue increased 5% year-over-year to $177.36 million. Its gross profit rose 8.2% from the previous year to $113.75 million. Additionally, the company's non-GAAP net income was $18.81 million, and its non-GAAP net income per share remained flat year-over-year at $0.10.
For the quarter ending September 30, 2024, LZ's revenue is expected to increase marginally year-over-year to $167.45 million. LZ's EPS for the same quarter is expected to grow 24.1% year-over-year to $0.15. It surpassed the consensus EPS and revenue estimates in three of the four trailing quarters. The stock has gained 10.2% over the past month to close the last trading session at $6.48.
LZ's positive outlook is reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
It is ranked #10 in the same industry. It has an A grade for Quality and a B for Value. To see LZ's Growth, Momentum, Stability, and Sentiment ratings, <a href="https://stocknews.com/stock/LZ/">click here</a>.
Stock #1: trivago N.V. (<a href="https://stocknews.com/stock/TRVG/">TRVG</a>) 
Headquartered in Düsseldorf, Germany, TRVG, together with its subsidiaries, operates a hotel and accommodation search platform in the United States, Germany, the United Kingdom, and internationally. It offers an online meta-search for hotels and accommodations through online travel agencies, hotel chains, and independent hotels.
On July 30, 2024, TRVG announced a strategic investment in AI-driven travel tech platform Holisto to enhance its "trivago Book &amp; Go" service, aiming for improved conversion rates and a consistent user experience. This partnership will leverage Holisto's technology to optimize hotel rate aggregation and provide better deals for TRVG's travelers.
In terms of the trailing-12-month <a href="https://www.investopedia.com/terms/a/assetturnover.asp">asset turnover ratio</a>, TRVG's 0.90x is 81.3% higher than the 0.50x industry average. Similarly, its 97.55% trailing-12-month gross profit margin is 90.7% higher than the 51.15% industry average.
During the second quarter, which ended June 30, 2024, TRVG's total revenue, came in at €118.56 million ($130.75 million). Similarly, its net total other income stood at €987 thousand ($1.09 million). In addition, as of June 30, 2024, its total current assets came in at €191.38 million ($211.05 million), compared to €187.93 million ($207.25 million) as of December 31, 2023.
For the quarter ending September 30, 2024, TRVG's revenue is expected to increase 3.5% year-over-year to $172.59 million. Its EPS for fiscal 2025 is expected to increase 735.9% year-over-year to $0.05. It surpassed the consensus EPS estimates in three of the trailing four quarters. Over the past month, the stock has declined 8.3% to close the last trading session at $1.88.
TRVG's robust fundamentals are reflected in its POWR Ratings. It has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has a B grade for Value, Sentiment, and Quality. Within the Internet industry, it is ranked #9. To access the additional POWR Ratings of TRVG for Growth, Momentum, and Stability, <a href="https://stocknews.com/stock/TRVG/">click here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
LZ shares were trading at $6.74 per share on Thursday afternoon, up $0.26 (+4.01%). Year-to-date, LZ has declined -40.35%, versus a 18.26% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/lz-chgg-trvg-3-tech-stocks-under-10-that-could-skyrocket/>3 Tech Stocks Under $10 That Could Skyrocket</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Tech Stocks Under $10 That Could Skyrocket

Chegg ( ($CHGG) ) has shared an update. A recent press release from the Company has officially announced executive resignations, drawing significan...

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Chegg

Chegg (CHGG) Forecast

Chegg (NYSE:CHGG) Stock, Quote.Headers.trade-ideas