Latest News for China Tower Corp Stock (OTC:CHWRF)

China Tower Corp Ltd is a telecommunications tower infrastructure service provider. The Company is principally engaged in the construction, maintenance, and operation of base station ancillary facilities such as telecommunications towers, public network coverage in high-speed railways and subways, and large-scale indoor Distributed Antenna Systems (DAS). The business of the company includes Tower business; DAS business; Smart Tower business and Energy business. It generates maximum revenue from the Tower business.

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Benzinga&#39;s Top Upgrades, Downgrades For September 3, 2019

CHINA TOWER CP REG SHS H by China Tower Corporation Limited

China Tower Corp Ltd

TikTok&#8217;s parent company, ByteDance, <a href="https://www.benzinga.com/news/24/04/38460175/tiktok-would-rather-shutdown-than-opt-for-sale">would rather face a shutdown, or ban, than sell</a>, according to Reuters.
In a video, TikTok CEO Shou Chew promised that the Beijing-based company would first <a href="https://www.benzinga.com//node/38394855">fight the ban in court</a>.
The video currently has almost 3 million views. TikTok boasts roughly 170 million users. 
President Joe Biden recently <a href="https://www.benzinga.com//node/38394855">signed into law a bill that gives</a> ByteDance nine to 12 months to sell its U.S. assets to a domestic buyer. Otherwise, it faces an outright ban.
The bill saw bipartisan support in the House and Senate. 
Observers argue that a ban could benefit the platform's main competitors in the U.S., including Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Snap Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) — both of which count <a href="https://www.benzinga.com/news/23/03/31521439/conflict-of-interest-congress-members-who-own-meta-goog-snap-shares-could-benefit-from-tiktok-ban">members of Congress as investors</a>.
Lawmakers argue the decision stems from a series of classified briefings from the FBI, the Justice Department and the Director of National Intelligence. 
Last week, Meta lost over 15% of its value in one day <a href="https://www.benzinga.com//node/38441148">after reporting worse-than-expected quarterly results</a>. The lackluster earnings report was strong enough to counteract positive speculation around the TikTok bill.
Conversely, Snap shares rose more than 25% last week <a href="https://www.benzinga.com/markets/equities/24/04/38456421/snap-gains-over-25-whats-going-on">after reporting quarterly earnings of $46 million, compared to $1 million in the prior year</a>. 
Shou insists the bill was designed to ban the app.
"Make no mistake, this is a ban. Many who sponsor the bill admit a TikTok ban is their ultimate goal," he said.
See Also: <a href="https://www.benzinga.com/news/24/04/38423296/expert-slams-tiktok-ban-bill-as-way-too-vague-questions-impact-on-donald-trumps-truth-social-rumble">Expert Slams TikTok Ban Bill As &#8216;Way Too Vague,&#8217; Questions Impact On Donald Trump&#8217;s Truth Social, Rumble And X</a>
<h3 class="wp-block-heading">TikTok: &#8216;We Aren&#8217;t Going Anywhere&#8217; </h3>
TikTok is known for its recommendation algorithm, which has been touted as the "secret sauce" behind its massive global success.
The issue has extra complications for the company, which is stuck between the geopolitical interests of the world's two largest economies. 
While the U.S. government is deeming TikTok a national security risk, China has a hold over the company's ability to sell its U.S. platform. Since TikTok's recommendation algorithm is listed in the country's export-control list, <a href="https://www.benzinga.com/markets/asia/24/03/37800098/tiktok-ban-china-has-the-power-to-block-sale-gains-leverage-over-washington">China could decide to block the sale</a> altogether.
That would leave ByteDance with the option of selling TikTok's brand and design without its algorithm.
But, according to Shou, a legal fight will transpire before a sale. 
"Rest assured, we aren&#8217;t going anywhere. We're confident and we will keep fighting for your rights in the courts," said Shou.
Shou also hinted at the idea the ban is threatening freedom of expression in the U.S. in his video statement.
"It's actually ironic, because the freedom of expression on TikTok reflects the same American values that make the United States a beacon of freedom," said Shou.
First Amendment Vs. National Security: Legal experts <a href="https://www.theverge.com/24141539/tiktok-ban-bytedance-china-dc-circuit-supreme-court">quoted</a> by The Verge agree that the unconstitutionality of the ban is the strongest claim the company has against the law. 

Yet the national security aspect of the legislation makes it especially hard to challenge in court, as courts are normally reluctant to overstep Congressional decisions regarding national security matters.
The TikTok challenge will first go to the D.C Circuit Court, the main court of appeals for issues of constitutional law, and second in line after the Supreme Court.
What will ultimately be debated in court — and in the public sphere — is whether national security concerns trump the First Amendment in this specific scenario.
ByteDance has yet to file a claim, but experts are expecting legal action to come from business owners and influencers who lean on the app to keep their businesses running.
Now Read: <a href="https://www.benzinga.com/government/24/04/38445920/tiktok-will-stop-paying-people-for-using-the-app-after-eu-raised-addiction-concerns">TikTok Will Stop Paying People For Using The App After EU Raised Addiction Concerns</a>
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News

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TikTok Ban: Courts Must Decide Whether National Security Concerns Trump Freedom Of Expression

European pharma giant&nbsp;AstraZeneca Plc&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) Covid vaccine, developed with the University of Oxford, is facing a class action lawsuit alleging its vaccine caused death and&nbsp;serious&nbsp;injury in&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/22/02/25785890/blood-clot-risk-after-first-astrazeneca-covid-19-shot-very-small-uk-study-shows" rel="noreferrer noopener">numerous cases</a>.&nbsp;
Lawyers representing the plaintiffs argue that the vaccine resulted in side effects for a small number of families, including brain injuries and fatalities.
AstraZeneca, while&nbsp;contesting the claims, has acknowledged in court documents that its vaccine can, in rare instances, cause Thrombosis with Thrombocytopenia Syndrome (TTS), a condition characterized by blood clots and&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/08/34021812/astrazeneca-under-legal-lens-faces-two-covid-19-vaccine-lawsuits-in-london" rel="noreferrer noopener">low&nbsp;blood&nbsp;platelet counts</a>.
&nbsp;In the legal document submitted to the High Court in February, AstraZeneca&nbsp;<a target="_blank" href="https://www.telegraph.co.uk/news/2024/04/28/astrazeneca-admits-covid-vaccine-causes-rare-side-effect/" rel="noreferrer noopener">said</a>: &#8220;It is admitted that the AstraZeneca vaccine can, in&nbsp;very rare&nbsp;cases, cause TTS. The causal mechanism is not known.&#8221;
This admission follows a year of legal battles and could potentially lead to significant payouts for victims and their families.
However, AstraZeneca maintains that the causal mechanism behind TTS is not fully understood and that the condition can occur independently of its vaccine.
Meanwhile, lawyers argue that the AstraZeneca-Oxford vaccine is defective and its efficacy has&nbsp;been overstated. They claim that the vaccine has caused a new illness known as vaccine-induced immune thrombocytopenia and thrombosis (VITT), a subset of TTS, although AstraZeneca&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/22/03/26196630/astrazeneca-mulls-ditching-us-approval-for-its-covid-19-vaccine-ft" rel="noreferrer noopener">disputes the terminology</a>.
AstraZeneca&#8217;s vaccine&nbsp;is no longer used&nbsp;in the UK, and under-40s are offered alternative jabs due to safety concerns.&nbsp;
Fifty-one cases have been filed in the High Court by victims and their families seeking compensation valued at approximately £100 million.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/12/36324138/covax-global-initiative-for-covid-19-vaccines-comes-to-an-end-amid-shift-to-regular-programs" rel="noreferrer noopener">COVAX Global Initiative For COVID-19 Vaccines Comes To An End Amid Shift To Regular Programs</a>.
Price Action:&nbsp;AZN shares are up 0.44% at $75.50&nbsp;at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Paul McManus via Pixabay

Biotech

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Health Care

Legal

AstraZeneca Admits Its COVID-19 Vaccine May Cause Blood Clotting Side Effect In Very Rare Case, But Causal Mechanism Unknown

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining around 0.1% on Monday.
The Dow traded up 0.19% to 38,313.56 while the NASDAQ rose 0.13% to 15,948.81. The S&amp;P 500 also rose, gaining, 0.10% to 5,105.25.
Check This Out: <a href="https://www.benzinga.com/news/24/04/38489087/jim-cramer-likes-palantir-recommends-pioneer-natural-resources-i-want-you-to-ka-ching-ka-ching"> Jim Cramer Likes Palantir, Recommends Pioneer Natural Resources: &#8216;I Want You To Ka-Ching, Ka-Ching&#8217;</a>
Leading and Lagging Sectors Consumer discretionary shares rose by 1.9% on Monday.
In trading on Monday, communication services shares fell by 1.7%.
Top Headline
ON Semiconductor Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) reported better-than-expected first-quarter results.
ON Semiconductor reported a fiscal first-quarter 2024 revenue decline of 5% year-on-year to $1.86 billion, beating the consensus of $1.85 billion. The adjusted EPS of $1.08 beat the consensus of $1.04.
ON Semiconductor expects second-quarter adjusted revenue of $1.68 billion – $1.78 billion, below the consensus of $1.92 billion. The company sees adjusted EPS of $0.86 – $0.98 versus the consensus of $1.10.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Deciphera Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCPH#NASDAQ">DCPH</a>) shares shot up 73% to $25.29 after the company announced it will be acquired by ONO Pharmaceutical for $25.60 per share in cash.</li>
<li>Shares of Collective Audience, Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAUD#NASDAQ">CAUD</a>) got a boost, surging 84% to $0.7356 after the company announced a strategic partnership with Insticator.</li>
<li>Koninklijke Philips N.V.  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>) shares were also up, gaining 28% to $27.02 after the company announced $1.1 billion settlement for Respironics personal injury and medical monitoring litigation. The company also reported better than expected first-quarter earnings and reaffirmed guidance.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Clever Leaves Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLVR#NASDAQ">CLVR</a>) shares dropped 61% to $1.60 after the company announced that it will voluntarily delist its common shares from the Nasdaq and deregister its Securities to terminate and suspend its reporting obligations.</li>
<li>Shares of Addex Therapeutics Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADXN#NASDAQ">ADXN</a>) were down 50% to $8.12 after the company announced the Phase 2 ADX71149 epilepsy study did not achieve statistical significance for the primary endpoint of time for patients to reach baseline seizure count when ADX71149 was added to standard of care.</li>
<li>Annovis Bio, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANVS#NYSE">ANVS</a>) was down, falling 58% to $7.49 after the company announced data from its Phase II/III Alzheimer study of buntanetap in mild to moderate Alzheimer&#8217;s. Efficacy in the CGIC endpoint was not reached due to the limited number of patients and short trial duration.</li>
</ul>
Also Check This Out: <a href="https://www.benzinga.com/news/24/04/38487215/this-analyst-with-86-accuracy-rate-sees-around-13-upside-in-chipotle-mexican-grill-here-are-5-stock">This Analyst With 86% Accuracy Rate Sees Around 13% Upside In Chipotle Mexican Grill &#8211; Here Are 5 Stock Picks For Last Week From Wall Street&#8217;s Most Accurate Analysts</a>
Commodities In commodity news, oil traded down 0.8% to $83.17 while gold traded up 0.4% at $2,355.80.
Silver traded up 0.6% to $27.410 on Monday, while copper rose 2.1% to $4.67.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 rose 0.07%, London's FTSE 100 rose 0.09% while Spain's IBEX 35 Index fell 0.48% The German DAX fell 0.24% French CAC 40 fell 0.29% while Italy's FTSE MIB Index rose 0.14%.
The services confidence indicator in the Eurozone fell by 0.4 points to 6.0 in April, while industry confidence indicator declined to -10.5 in April versus a revised level of -8.9 in the prior month. The consumer confidence indicator in the Eurozone increased by 0.2 points to -14.7 in April.
The seasonally adjusted industry confidence indicator in Spain increased by 0.8 points from the prior month to a reading of -3.9 in April. Spain&#8217;s consumer price inflation rate rose to 3.3% year-over-year in April.
Asia Pacific Markets
Asian markets closed higher on Monday, with Hong Kong's Hang Seng Index jumping 0.54%, China's Shanghai Composite climbing 0.79% and India's S&amp;P BSE Sensex gaining 1.28%.
Profits earned by Chinese industrial firms climbed 4.3% year-over-year to CNY 1,505.5305 billion during the first three months of the year, compared to a 10.2% gain in the earlier period.
Economics
The Dallas Fed Manufacturing index fell slightly to -14.5 in April from March&#8217;s reading of -14.4.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38485545/top-3-real-estate-stocks-that-are-set-to-fly-in-april">Top 3 Real Estate Stocks That Are Set To Fly In April</a>

Earnings

Eurozone

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Markets

Trading Ideas

ADXN

ANVS

CAUD

CLVR

DCPH

S&P 500 Edges Higher; ON Semiconductor Earnings Top Views

DXLG

DXL Big + Tall Announces Strategic Collaboration with Nordstrom To Bring Fit Expertise To More Big + Tall Customers

CIBC analyst Kevin Chiang maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Neutral and raises the price target from $207 to $220.

Price Target

CIBC Maintains Neutral on Waste Management, Raises Price Target to $220

Academy Sports's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASO#NYSE">ASO</a>) short percent of float has fallen 38.94% since its last report. The company recently reported that it has 4.69 million shares sold short, which is 11.84% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.8 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>Academy Sports Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714415424_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Academy Sports 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 Academy Sports'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>, Academy Sports's peer group average for short interest as a percentage of float is 14.81%, 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

(ASO) - Analyzing Academy Sports's Short Interest

Edison Intl's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIX#NYSE">EIX</a>) short percent of float has risen 3.35% since its last report. The company recently reported that it has 6.67 million shares sold short, which is 2.16% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.32 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>Edison Intl Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714415419_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Edison Intl 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 Edison Intl'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>, Edison Intl's peer group average for short interest as a percentage of float is 2.47%, 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.

(EIX) - Analyzing Edison Intl's Short Interest

Boot Barn Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOOT#NYSE">BOOT</a>) has outperformed the market over the past 10 years by 9.61% on an annualized basis producing an average annual return of 20.18%. Currently, Boot Barn Holdings has a market capitalization of $3.27 billion. 
Buying $100 In BOOT: If an investor had bought $100 of BOOT stock 10 years ago, it would be worth $628.40 today based on a price of $107.79 for BOOT at the time of writing.
<h3>Boot Barn Holdings's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714415417_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.

BOOT

If You Invested $100 In This Stock 10 Years Ago, You Would Have $600 Today

Pure Storage's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>) short percent of float has fallen 7.78% since its last report. The company recently reported that it has 8.20 million shares sold short, which is 3.08% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.82 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>Pure Storage Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714415413_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Pure Storage 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 Pure Storage'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>, Pure Storage's peer group average for short interest as a percentage of float is 6.45%, 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.

PSTG

Peering Into Pure Storage's Recent Short Interest

First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) has outperformed the market over the past 5 years by 18.64% on an annualized basis producing an average annual return of 30.28%. Currently, First Citizens BancShares has a market capitalization of $24.92 billion. 
Buying $100 In FCNCA: If an investor had bought $100 of FCNCA stock 5 years ago, it would be worth $378.43 today based on a price of $1715.01 for FCNCA at the time of writing.
<h3>First Citizens BancShares's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714415412_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.

FCNCA

Here's How Much You Would Have Made Owning First Citizens BancShares Stock In The Last 5 Years

Editor&#8217;s note: The headline and body of this story have been corrected to specify the price action was in Nikkei 225 futures. 
The Bank of Japan (BoJ) intervened in the foreign-exchange market on Monday to bolster the weakening Japanese yen, which had plunged to a 34-year low <a href="https://www.benzinga.com/topic/japan">of 160 per dollar. </a>
In response to the move, the yen saw a notable recovery, jumping as much as 3% to 154.6 against the dollar following the intervention, before retracing to 156.80 at the time of this writing. 
<h3 class="wp-block-heading">Chart: Dollar-Yen Tumbles After BoJ Intervenes In FX Market</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103557/image-246-1024x495.png" alt="" class="wp-image-313477" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103557/image-246-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103557/image-246-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103557/image-246-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103557/image-246-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103557/image-246.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Why Did The BoJ Intervene?</h3>
In response to the Japanese yen depreciating by over 10% in less than four months in 2024, Japanese monetary authorities decided on Monday to take actions to stabilize the domestic currency&#8217;s value. 
These interventions are typically ordered by the Ministry of Finance, as officials believe that sudden and disorderly fluctuations in exchange rates can have adverse financial consequences. 
The yen had experienced depreciation in six of the previous seven weeks, reaching as low as 160 against the dollar, prompting the Bank of Japan to deploy countermeasures. 
Foreign exchange interventions involve the sale of foreign exchange reserves in exchange for domestic currency to support its value. 
The last time Japan intervened in this manner was in October 2022, when the yen had fallen to around 152 per dollar, with an estimated expenditure of approximately 9.2 trillion yen ($60.78 billion) to defend the currency.
The primary culprit behind the yen&#8217;s deterioration is the contrasting monetary policies between the Federal Reserve and the Bank of Japan. 
Despite the Japanese central bank&#8217;s rate hike in March—ending a 14-year period of zero or negative interest rates—the increase was not only modest, at just 10 basis points, but the BoJ also provided no clear indications of future rate adjustments.
This tentative approach failed to reverse the yen&#8217;s downward trajectory. 
Simultaneously, higher-than-expected inflation data in the United States led market participants to revise down their expectations of future rate cuts by the Fed, further widening the policy gap between the two countries and exerting pressure on the yen.
As the chart below shows, the dollar-yen rate reflects the flip side of the yield differential between 10-year U.S. Treasuries and Japanese bonds.
<h3 class="wp-block-heading">Chart: USD/JPY vs. 10-Year US-Japan Yield Spread</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103725/image-247-1024x495.png" alt="" class="wp-image-313482" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103725/image-247-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103725/image-247-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103725/image-247-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103725/image-247-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103725/image-247.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Impact on Japanese Equities</h3>
The Bank of Japan&#8217;s intervention in the foreign exchange market resulted in a decline in the dollar-yen exchange rate, which in turn negatively impacted futures on the major Japanese stock market index. 
Futures on the Nikkei 225, which comprises 225 large-cap Japanese companies, experienced a 0.8% decline from midnight to 10 a.m. EDT on Monday, while the dollar depreciated by 1.6% against the yen during the same period.
<h3 class="wp-block-heading">Chart: Nikkei Index Falls After BoJ FX Interventions</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103925/image-248-1024x495.png" alt="" class="wp-image-313487" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103925/image-248-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103925/image-248-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103925/image-248-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103925/image-248-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29103925/image-248.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Japanese stocks in the Nikkei 225 typically benefit from a weaker yen, as domestic companies become more competitive in international markets, potentially boosting the value of their exports.
This phenomenon particularly benefits industries heavily reliant on overseas sales, such as automotive and electronics sectors, which are prominent components of the Nikkei 225.
For instance, leading Japanese automakers like Toyota Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) stand to gain from a weaker yen as it lowers the cost of their vehicles in foreign markets. This, in turn, can stimulate demand and bolster sales volumes, ultimately translating into higher revenues and improved profitability for these companies.
Analyzing the relationship between Toyota&#8217;s stock performance and the dollar-yen exchange rate over the past year reveals a notable correlation. As the dollar strengthened relative to the yen, shares of Toyota tended to exhibit upward momentum, reflecting stronger investor optimism about the company&#8217;s competitive position in international markets.
<h3 class="wp-block-heading">Chart: Japanese Automaker Toyota Cheers On Weaker Yen </h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29112349/image-250-1024x495.png" alt="" class="wp-image-313576" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29112349/image-250-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29112349/image-250-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29112349/image-250-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29112349/image-250-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/29112349/image-250.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read now: <a href="https://www.benzinga.com/general/macro-notification/24/04/38491988/federal-reserve-meeting-preview-high-interest-rates-need-more-time-to-work-bank-of-ame">Federal Reserve Meeting Preview: High Interest Rates &#8216;Need More Time To Work,&#8217; Bank of America Says</a>
Image generated using artificial intelligence via Midjourney.

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Japan Intervenes To Support Struggling Yen: Why Did It Trigger Nikkei 225 Futures Dip? 4 Charts To Watch (CORRECTED)

Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares are trading higher Monday, and the stock is up more than 20% <a href="https://www.benzinga.com/news/24/04/38459818/real-deal-amid-microsoft-google-earnings-techpreneur-says-by-2030-companies-not-fully-utilizing-ai-w">over the past five days</a>.
What To Know:
Shares of semiconductor companies rose last week following strong earnings from Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Google parent Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), all of which highlighted <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38465071/microsoft-q3-shines-light-on-ai-innovation-cycle-analysts-see-plenty-of-runway-for-">strong demand</a> for artificial intelligence and increasing capital expenditures in the field of AI. 
SMCI is set to report its third-quarter financial results after the bell on Tuesday and will host a conference call to discuss the results at 5:00 p.m. ET the same day. According to estimates from<a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw"> Benzinga Pro</a>, analysts expect the company to report earnings of $5.84 per share and quarterly revenue of $3.99 billion.
Related News: <a href="https://www.benzinga.com/news/24/04/38469297/whats-going-on-with-immunitybio-stock">What&#8217;s Going On With ImmunityBio Stock?</a>
<h2 class="wp-block-heading">SMCI Stock Prediction 2024: </h2>
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of Super Micro Computer have an average 1-year price target of $961.13, representing an expected upside of 9.05%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. 1 analyst has a bearish recommendation on Super Micro Computer, while 10 analysts have bullish ratings. The street high price target from Loop Capital is $1500, while the street low from Susquehanna is $250.
SMCI Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Super Micro shares are up 3.7% at $889.15 at the time of publication Monday.
Image: Shutterstock

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What's Going On With Super Micro Computer Stock Ahead Of Earnings?

CIBC analyst Kevin Chiang maintains TFI International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFII#NYSE">TFII</a>) with a Outperformer and lowers the price target from $175 to $172.

TFII

CIBC Maintains Outperformer on TFI International, Lowers Price Target to $172

Details about the successor to Nintendo ADR&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>) <a href="https://www.benzinga.com/general/gaming/24/02/36893757/nintendo-switch-2-prospects-can-it-outshine-the-original-asks-analysts">Nintendo Switch have surfaced. </a>
A leaked Facebook post from Mobapad (<a href="https://www.gamesindustry.biz/nintendo-switch-2-reportedly-has-magnetic-joy-cons-new-cartridges-larger-1080p-screen?utm_source=feed&amp;utm_medium=rss&amp;utm_campaign=feed">via </a>GamesIndustry.biz), a China-based peripherals manufacturer with ties to Nintendo&#8217;s supply chain, revealed specifics about Nintendo&#8217;s upcoming video game console. 
See Also: <a href="https://www.benzinga.com/general/gaming/24/02/37315458/this-is-the-reason-behind-nintendo-switch-2s-delay-to-march-2025-report-says">This Is The Reason Behind Nintendo Switch 2&#8217;s Delay To March 2025, Report Says</a>
The Switch 2 appears to be an evolution rather than a radical departure from the original Switch, resembling a refined &#8220;Pro&#8221; version.
Key upgrades include a larger screen with 1080p resolution, an improvement over the original Switch&#8217;s 720p display. 
Moreover, the console is expected to support existing Joy-Con and Pro controllers, though with smaller, magnetically attachable controllers replacing the current slot system.
Backward compatibility seems to be a focus, as the Switch 2 is rumored to support all physical and digital games from its predecessor, with a cartridge slot for Switch game cards. 
New game cards designed specifically for the Switch 2 may not work on the original console. Additionally, the Switch 2 will use a USB-C charging port, allowing current Switch owners to use their docks with the new console.
Despite these leaks, Nintendo has not officially confirmed any details about its next console. Speculation suggests a potential launch in March 2025 at the earliest, with a reveal likely to occur after Gamescom 2024 in August, as Nintendo has announced its absence from the event.
Read Next: <a href="https://www.benzinga.com/general/gaming/24/01/36596795/switch-2-hype-builds-as-best-sellers-disappear-nintendos-repackaging-strategy-unveiled">Switch 2 Hype Builds As Best-Sellers Disappear: Nintendo&#8217;s Repackaging Strategy Unveiled?</a>
Photo: <a href="https://unsplash.com/es/@currentspaces?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash">Brandon Romanchuk</a> on <a href="https://unsplash.com/es/fotos/nintendo-switch-azul-y-negro-gFFhJPuERII?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash">Unsplash</a>

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Nintendo Switch 2 Reports Leak: Magnetic Joy-Cons, Enhanced 1080p Screen, Next-Gen Cartridges

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Saia shares are trading lower, possibly on continued weakness after the company last week reported worse-than-expected Q1 financial results.

<a href="https://asia.nikkei.com/Business/Technology/Microsoft-Google-partner-with-Japanese-cities-on-AI-rules" title="https://asia.nikkei.com/Business/Technology/Microsoft-Google-partner-with-Japanese-cities-on-AI-rules">https://asia.nikkei.com/Business/Technology/Microsoft-Google-partner-with-Japanese-cities-on-AI-rules</a>

Politics

'Microsoft, Google partner with Japanese cities on AI rules' -Nikkei Asia Report

<a href="https://www.globenewswire.com/news-release/2024/04/29/2871564/0/en/Chevron-Entry-into-PEL-82.html" title="https://www.globenewswire.com/news-release/2024/04/29/2871564/0/en/Chevron-Entry-into-PEL-82.html">https://www.globenewswire.com/news-release/2024/04/29/2871564/0/en/Chevron-Entry-into-PEL-82.html</a>

Watching Shares Of Chevron; Traders Circulate Release Titled 'Chevron Entry into PEL 82'

MBLY

Mobileye shares are trading lower. Citigroup maintained a Buy rating on the stock but lowered its PT to $53. Last week, Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $26 to $25.

Wells Fargo analyst Michael Turrin maintains Braze (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRZE#NASDAQ">BRZE</a>) with a Overweight and lowers the price target from $75 to $65.

BRZE

Wells Fargo Maintains Overweight on Braze, Lowers Price Target to $65

Financial giants have made a conspicuous bullish move on Robinhood Markets. Our analysis of options history for Robinhood Markets (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) revealed 13 unusual trades.
Delving into the details, we found 53% of traders were bullish, while 46% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $219,256, and 8 were calls, valued at $428,662.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $25.0 for Robinhood Markets over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
In terms of liquidity and interest, the mean open interest for Robinhood Markets options trades today is 10716.75 with a total volume of 4,769.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Robinhood Markets's big money trades within a strike price range of $10.0 to $25.0 over the last 30 days.
<h3>Robinhood Markets Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714414564_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>HOOD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$5.55</td>
<td>$5.35</td>
<td>$5.55</td>
<td>$20.00</td>
<td>$166.5K</td>
<td>31.1K</td>
<td style="text-align: right;">613</td>
</tr>
<tr>
<td>HOOD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/10/24</td>
<td>$1.12</td>
<td>$1.1</td>
<td>$1.11</td>
<td>$17.50</td>
<td>$71.9K</td>
<td>737</td>
<td style="text-align: right;">231</td>
</tr>
<tr>
<td>HOOD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/24/24</td>
<td>$1.12</td>
<td>$0.93</td>
<td>$0.94</td>
<td>$19.50</td>
<td>$67.4K</td>
<td>2.0K</td>
<td style="text-align: right;">630</td>
</tr>
<tr>
<td>HOOD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$1.38</td>
<td>$1.36</td>
<td>$1.36</td>
<td>$17.00</td>
<td>$51.0K</td>
<td>3.2K</td>
<td style="text-align: right;">392</td>
</tr>
<tr>
<td>HOOD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$1.79</td>
<td>$1.75</td>
<td>$1.75</td>
<td>$20.00</td>
<td>$42.1K</td>
<td>12.9K</td>
<td style="text-align: right;">492</td>
</tr>
</tbody>
</table>

<h3>About Robinhood Markets</h3>
Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology. Its vertically integrated platform has enabled the introduction of new products and services such as cryptocurrency trading, dividend reinvestment, fractional shares, recurring investments, and IPO Access. It earns transaction-based revenues from routing user orders for options, equities, and cryptocurrencies to market makers when a routed order is executed.
In light of the recent options history for Robinhood Markets, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Present Market Standing of Robinhood Markets</h3>
<ul>
<li>With a volume of 5,658,517, the price of HOOD is down -1.51% at $17.61. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 9 days.</li>
</ul>
<h3>Expert Opinions on Robinhood Markets</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $19.8.
<ul>
<li>Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Robinhood Markets with a target price of $18. </li>
<li>An analyst from JMP Securities has decided to maintain their Market Outperform rating on Robinhood Markets, which currently sits at a price target of $28. </li>
<li>An analyst from Piper Sandler persists with their Neutral rating on Robinhood Markets, maintaining a target price of $17. </li>
<li>Maintaining their stance, an analyst from Goldman Sachs continues to hold a Neutral rating for Robinhood Markets, targeting a price of $20. </li>
<li>Maintaining their stance, an analyst from Barclays continues to hold a Underweight rating for Robinhood Markets, targeting a price of $16. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Robinhood Markets options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

HOOD

This Is What Whales Are Betting On Robinhood Markets

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Tuesday, September 03, 2019