Short interest for Digital Brands Group gives investors a sense of the degree to which investors are betting on the decline of Digital Brands Group's stock. Short interest data is updated every two weeks.

Digital Brands Group Stock (NASDAQ:DBGI), Short Interest Report

Digital Brands Group

Digital Brands Group Inc offers a variety of apparel through numerous brands on a both direct-to-consumer and wholesale basis. It has expanded into an omnichannel brand offering the styles and content not only online but at selected wholesale and retail storefronts. Its brand portfolio consists of Bailey 44, DSTLD, Harper & Jones, Stateside, and Sundry.

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U.S. stocks traded lower toward the end of trading, with the Dow Jones index dipping over 700 points on Tuesday.

The Dow traded down 1.81% to 38,096.28 while the NASDAQ fell 2.13% to 15,603.71. The S&amp;P 500 also fell, dropping, 1.79% to 4,931.86.

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Shares of  IPG Photonics Corporation (NASDAQ: IPGP) fell sharply during Tuesday’s session after the company reported mixed fourth-quarter financial results and issued soft first-quarter guidance.

Why IPG Photonics Shares Are Trading Lower By Around 11%? Here Are Other Stocks Moving In Tuesday&#39;s Mid-Day Session

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling over 1% on Tuesday.

The Dow traded down 1.05% to 38,389.76 while the NASDAQ fell 1.16% to 15,757.13. The S&amp;P 500 also fell, dropping, 1.01% to 4,970.94.

Gold Down Over 1%; Coca-Cola Posts Upbeat Sales

Digital Brands Group, Inc. - Common Stock

Digital Brands Group Inc

The wife of the man who drove a&nbsp;Tesla Inc Model Y <a href="https://www.benzinga.com/news/23/06/32822732/man-who-drove-tesla-off-cliff-points-to-tire-pressure-problems-ahead-of-court-appearance-but-wife-te">off the side of a cliff&nbsp;in California in 2023</a> has reportedly pled to court to not prosecute him. Neha Patel was in the car during the incident with her two children.
What Happened: "I don't want to see Dharmesh prosecuted with any of his charges," she said in court on Thursday, as per a<a href="https://www.sfchronicle.com/bayarea/article/wife-doctor-drove-family-cliff-tesla-avoid-prison-19423476.php"> report </a>by San Francisco Chronicle. "I am pleading with the court to grant him his mental health diversion."
Appearing in court over Zoom, Neha Patel said that a mental health episode led to the crash but that it is treatable and expressed her wish to be reunited with her husband. 
"Seeing my kids in constant pain is one of the hardest things I've had to endure," she&nbsp;reportedly told the judge. "Once I tuck my children into bed at night I'm reminded of my own solitude. I really miss my best friend. I really miss my partner in my life."
Why It Matters: Dharmesh Patel drove a Tesla Model Y off a San Mateo County cliff on Jan. 2, 2023. The vehicle plunged 250 feet down the cliff and flipped several times before landing right-side up. 
The occupants of the vehicle were rescued via helicopter before the driver was arrested and charged with three counts of attempted murder. The couple and their older 7-year-old child suffered serious injuries in the incident. 
Dharmesh Patel pleaded not guilty to the charges and wants to qualify for mental health treatment instead of prison time. He initially told authorities he didn&#8217;t intentionally drive the vehicle off&nbsp;the side of the cliff but instead, he was pulling&nbsp;over to&nbsp;check his tire pressure when the car&nbsp;<a href="https://www.benzinga.com/trading-ideas/long-ideas/23/02/30771654/elon-musk-expects-tesla-to-be-worth-more-than-saudi-aramco-apple-combined-by-2030-why-1" target="_blank" rel="noreferrer noopener">went into freefall</a>.
Patel&#8217;s wife, however, told first responders that her husband intended to drive the car off of the cliff in an attempt to &#8220;kill everyone&#8221; inside. She added that he needed a psychological evaluation.
Judge Susan Jakubowski&nbsp;will determine whether Patel has a qualifying mental illness and whether it contributed to his alleged crime, the report said, while adding that the judge also has to determine if Patel would benefit from treatment and if he presents a public safety threat. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/05/38582801/s-p-dials-down-teslas-governance-score-amid-concerns-over-elon-musks-dominance-but-retains-bbb-credi">S&amp;P Dials Down Tesla's Governance Score Amid Concerns Over Elon Musk's Dominance — But Retains ‘BBB' Credit Rating</a>
Representative photo via Shutterstock

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'I Really Miss My Partner:' Wife Of Tesla Driver Who Plunged Model Y Off California Cliff Wants Him Back, Not In Jail

Elon Musk&#8216;s Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has been labeled a &#8220;meme stock&#8221; by a renowned economist, who believes that the company&#8217;s success is now more about Musk&#8217;s promises than its actual performance.
What Happened: UC Berkeley economist J. Bradford DeLong suggested that Tesla&#8217;s market success is now largely dependent on Musk&#8217;s ability to keep making promises, regardless of the company&#8217;s actual delivery, the economist <a href="https://www.project-syndicate.org/commentary/elon-musk-tesla-meme-stock-by-j-bradford-delong-2024-05">wrote</a> in an op-ed for Project Syndicate. 
&#8220;From the standpoint of its suppliers, employees, and customers, it is a source of income and production,&#8221; he said. &#8220;And from the standpoint of Wall Street speculators, it is a bouncing ball in a roulette wheel: a tech-bubble casino play.&#8221;
DeLong, in an op-ed, pointed out that Musk, after unlocking his entire pay package in 2018, has been promoting ideas that the company has yet to deliver on, such as full self-driving, humanoid robots, and an artificial intelligence supercomputer.
&#8220;For all the current Tesla shareholders planning to offload their holdings in the next couple of years, everything hinges on the company succeeding as a meme stock, and Musk is diligently working toward that goal,&#8221; DeLong argued.
&#8220;Since there are virtually no long-term Tesla shareholders, the market does not particularly care that the company lacks a CEO who is trying to build it into an enduring profit-making organization,&#8221; he added.
See Also: <a href="https://www.benzinga.com/news/24/04/38508828/edward-snowden-releases-genie-out-of-the-bottle-his-ongoing-poll-shows-people-want-neither-trump-nor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Edward Snowden Releases &#8216;Genie&#8217; Out Of The Bottle, His Ongoing Poll Shows People Want &#8216;Neither Trump Nor</a>
He also noted that Musk&#8217;s recent earnings commentary, in which he suggested that Tesla should be considered an AI or robotics firm, contradicts the company&#8217;s first-quarter results, where &#8220;automotive revenues&#8221; made up more than 80% of the sales.
Despite the concerns raised by DeLong and others, Tesla&#8217;s recent earnings commentary has boosted confidence on Wall Street, following a period of uncertainty around EV demand and executive controversies.
Why It Matters: The economist&#8217;s remarks come in the wake of Tesla&#8217;s <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp">first-quarter financial results</a>, which saw a 9% year-over-year revenue decline, missing Wall Street estimates. Despite this, Musk&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38398667/tesla-bulls-praise-musks-q1-earnings-call-see-ev-giant-on-collision-course-with-ube">optimistic commentary</a> during the earnings call triggered a 13% surge in after-hours trading.
Meanwhile, Musk&#8217;s focus on AI and robotics has been evident in his recent comments. After Amazon&#8217;s AWS revenue surpassed that of 466 S&amp;P 500 companies, Musk <a href="https://www.benzinga.com/news/24/05/38542692/tesla-ceo-elon-musk-is-impressed-by-the-fact-that-jeff-bezos-aws-12-month-revenue-is-higher-than-466">expressed his astonishment</a> at the sheer size of the cloud computing business.
Meanwhile, Tesla&#8217;s rival, Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>), announced a 12% decrease in net revenues and a 10% reduction in consolidated shipments in <a href="https://www.benzinga.com/news/earnings/24/04/38515774/tesla-rival-stellantis-q1-revenue-declines-12-amid-preparations-for-new-product-wave-in-second-half">the first quarter</a>, largely due to volume, mix, and foreign exchange challenges.
Read Next: <a href="https://www.benzinga.com/news/24/04/38518177/29-year-old-tesla-worker-who-got-fired-says-he-slept-in-parking-lot-showered-at-factory-and-ate-micr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">29-Year-Old Tesla Worker Who Got Fired Says He Slept In Parking Lot, Showered At Factory And Ate Microwaved Dinner: &#8216;Sacrificed A Lot For The Company&#8217;</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Elon Musk's Tesla Is Now A 'Meme Stock,' Says Economist: 'The Market Does Not Particularly Care'

Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) shares rallied over 14% in Thursday&#8217;s after-hours trading after the biopharma reported a <a href="https://www.benzinga.com/general/biotech/24/05/38601856/amgen-reports-better-than-expected-q1-results-50m-milestone-payment">double beat and offered an update on its obesity drug pipeline.</a>
What Happened: Amgen said on the call that it was pulling the plug on AMG 786, an oral Phase 1 candidate for obesity. &#8220;We will not pursue further development. Instead, in obesity, we&#8217;re differentially investing in MariTide and a number of preclinical assets,&#8221; said Amgen&#8217;s EVP and Chief Scientific Officer Jay Bradner.
The rationale offered was prioritization. &#8220;Across the portfolio, we are presently prioritizing differentiated medicines, those that stand to provide the greatest benefit for patients,&#8221; he said.
MariTide, formerly AMG 133, is an injectable form of drug targeting two gut hormones — gastric inhibitory polypeptide receptor, or GIP, and glucagon-like peptide 1, or GLP-1, which is being investigated in a Phase 2 trial for the treatment of obesity.
In this introductory remarks on the earnings call, Robert Bradway, CEO of Amgen, said interim Phase 2 analysis of data from the study was complete, and that the results were very encouraging. &#8220;Following the interim analysis, I would say we&#8217;re confident in MariTide&#8217;s differentiated profile and believe it will address important unmet medical needs,&#8221; he said.
Giving more color, Bradner said all arms in the study remained active and patient dropout hasn&#8217;t been an issue. He also said the top-line 52-week data from the 11-arm Phase 2 study is on track for a readout in late-2024.
&#8220;We&#8217;re seeing a differentiated profile of MariTide and are confident that it will address important unmet medical needs, obesity, obesity-related conditions, and diabetes, the executive said.
The company is looking ahead to complete the Phase-2 study and work along with the Food and Drug Administration to expeditiously move it to the Phase-3 stage. It is also planning to initiate an additional dedicated Phase 2 study, investigating MariTide for the treatment of diabetes in patients with and without obesity. 
Bradner also said the company plans to deliver MariTide in a &#8220;convenient, handheld, patient-friendly auto-injector device with a monthly or even less frequent single-injection administration, assuming eventual approval.&#8221; 
See Also: <a href="https://www.benzinga.com/money/best-biotech-stocks">Best Biotech Stocks</a>
Why It&#8217;s Important: The huge popularity of obesity drug follows the weight-loss revolution that is taking hold. Novo Nordisk&#8217;s diabetes drug Ozempic was approved for obesity under the brand name Wegovy in 2021. These class of drugs mimic the action of the GLP-1 hormone to regulate blood sugar, slow digestion and suppress hunger.
Eli Lilly&#8217;s Zepbound is the second weight-loss drug of this category approved for use. It contains the same active ingredient as Lilly&#8217;s Type 2 diabetes drug Mounjaro.
Both companies benefited from the strong uptake of their respective weight-loss drugs, prompting others to dip their toes into the segment.
Not all have tasted the same degree of success. Pfizer, for one, announced<a href="https://www.benzinga.com/general/biotech/23/12/36041804/this-twice-daily-weight-loss-drug-has-adverse-side-effects-and-pfizer-wants-to-discontinue-it"> the ditching of the development of danuglipron, its oral weight-loss drug candidate,</a> which was then in Phase 3 development.
 MariTide, like, Lilly&#8217;s Zepbound and Novo Nordisk&#8217;s Wegovy, targets the receptors for GLP-1 hormone. While Zepbound increases the activity of GLP-1 as well as GIP receptors, MariTide increases GLP-1 receptor activity, while toning down on the receptor for GIP, Fierce Pharma <a href="https://www.fiercebiotech.com/biotech/amgen-axes-obesity-asset-after-ph-1-results-zooms-maritide#:~:text=Like%20Eli%20Lilly's%20obesity%20drug,act%20on%20the%20GIP%20receptor.">reported.</a>
The stakes are high, with the weight-loss drug market estimated at a mouth-watering $100 billion, Reuters reported.
Amgen shares rose 14.59% to $319, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a> If the after-hours gains hold good, the stock is on track to open at the highest level since early February.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38575293/demand-soars-for-novo-nordisks-weight-loss-drug-wegovy-despite-supply-constraints-and-eli-lilly-">Demand Soars For Novo Nordisk&#8217;s Weight-Loss Drug Wegovy Despite Supply Constraints And Eli Lilly Competition</a>
Photo via Shutterstock

Biotech

AMGN

Amgen Stock Adds Good Weight After CEO's Update On Experimental Drug Rivaling Ozempic, Nixing Oral Weight-Loss Candidate

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, but the index remained in the &#8220;Fear&#8221; zone on Thursday.
U.S. stocks settled higher on Thursday, with the Dow Jones index surging more than 300 points during the session. The U.S. Federal Reserve, on Wednesday, opted to keep the federal funds rate unchanged at 5.25% to 5.5%, as widely expected.
On the economic data front, the trade deficit in the US narrowed slightly to $69.4 billion in March versus a revised $69.5 billion gap in February. U.S. initial jobless claims came in unchanged from the previous week at 208,000 during the week ending April 27, compared to market expectations of 212,000.
Data on April nonfarm payrolls will be released today, with economists projecting 240,000 job gains for the month.
QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) shares jumped around 10% on Thursday after the company reported better-than-expected second-quarter financial results and raised its dividend. DoorDash, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) shares dipped over 10% after the company reported mixed first-quarter financial results. Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) shares surged around 34% after the company reported upbeat sales for the first quarter.
Most sectors on the S&amp;P 500 closed on a positive note, with consumer discretionary, real estate and information technology stocks recording the biggest gains on Thursday. However, materials and health care stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 322 points to 38,225.66 on Thursday. The S&amp;P 500 rose 0.91% at 5,064.20, while the Nasdaq Composite jumped 1.51% at 15,840.96 during Thursday's session.
Investors are awaiting earnings results from American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), and Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>) today.
At a current reading of 36.2, the index remained in the &#8220;Fear&#8221; zone on Thursday, versus a prior reading of 33.9.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/05/38605709/hershey-likely-to-report-lower-q1-earnings-here-are-the-recent-forecast-changes-from-wall-streets-m">Hershey Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a>

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Investor Sentiment Increases Ahead Of Jobs Report, Dow Jumps Over 300 Points

Under the terms of this agreement, worth &pound;550,000 to ANGLE, the Company will develop a CTC-based AR assay. Assay development will take place in the ANGLE&#39;s UK laboratories, with project completion expected in&nbsp;Q1&nbsp;2025. A successful development phase will demonstrate the importance of the Parsortix system in assessing the efficacy of prostate cancer therapeutics and offers the potential for long-term, ongoing business for the Company supporting clinical studies.

ANPCY

ANGLE Inks Supplier Agreement with AstraZeneca To Develop A Parsortix-Based Androgen Receptor Detection Assay For Use In Prostate Cancer Studies

Coca-Cola Europacific Partners (CCEP) today announces the resignation of Nik Jhangiani, SVP and Chief Financial Officer (CFO) with a search for his successor well underway,
Diageo plc &nbsp;announces that Nik Jhangiani will join the company as Chief Financial Officer, taking up the position and joining Diageo&#39;s Board and Executive Committee in Autumn 2024. Lavanya Chandrashekar will step down from the Executive Committee and Board at the same time after three years as Chief Financial Officer and six years with the company, and will return to the US.

Management

Coca-Cola European Partners plc Ordinary Shares

CCEP

Coca-Cola Europacific Partners CFO Nik Jhangiani Steps Down, Set To Join Diageo As CFO

<a target="_blank" href="https://www.benzinga.com/news/23/11/35866639/cruise-ceo-kyle-vogt-resigns-amid-safety-concerns-and-suspension-of-operations-at-gm-self-driving-ar" rel="noreferrer noopener">Kyle Vogt</a>, formerly the CEO of&nbsp;GM&#8216;s self-driving car unit&nbsp;Cruise, took to social media to express his views on U.S. manufacturing costs and called for prioritizing automation and efficiency.
What Happened:&nbsp;&#8220;The U.S. is currently screwed,&#8221;&nbsp;Kyle Vogt&nbsp;wrote on X, formerly Twitter. &#8220;Good companies know they can&#8217;t succeed w/o leveraging low-cost mfg elsewhere. Tariffs won&#8217;t get us out of this rut.&#8221;
Vogt emphasized the importance of prioritizing efficiency, automation, and advancements in the manufacturing process.
He stepped down from the company in November after one of its autonomous vehicles<a target="_blank" href="https://www.benzinga.com/news/23/10/35052444/self-driving-cruise-car-accident-leaves-pedestrian-trapped-and-injured-in-san-francisco" rel="noreferrer noopener">&nbsp;got involved in an accident</a>&nbsp;in San Francisco in October.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The US is currently screwed. Good companies know they can&#39;t succeed w/o leveraging low cost mfg elsewhere. Tariffs won&#39;t get us out of this rut. We must prioritize efficiency, automation, and progress, as uncomfortable to some as that may be.
&mdash; Kyle Vogt (@kvogt) <a href="https://twitter.com/kvogt/status/1785903157538886006?ref_src=twsrc%5Etfw">May 2, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Costs &amp; Competition:&nbsp;U.S. companies, particularly automakers, have voiced concerns over the past year regarding&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37327343/tesla-a-partner-and-not-competition-says-byd-chinese-firm-not-eyeing-us-market-just-yet" rel="noreferrer noopener">Chinese companies entering the U.S. market</a>.&nbsp;
These companies argue that due to lower manufacturing costs in China, Chinese EVs will be priced more competitively, threatening domestic manufacturers.
Additionally, there are worries about Chinese companies potentially establishing factories in Mexico to gain a foothold in the U.S. market while&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37150531/colossal-strategic-threat-ford-ev-exec-says-wed-better-get-fit-now-on-chinese-rivalry-after-byd-come" rel="noreferrer noopener">avoiding high tariffs</a>&nbsp;on direct Chinese imports.
Earlier this year,&nbsp;Elon Musk, CEO of U.S. electric vehicle giant&nbsp;Tesla Inc., echoed these concerns regarding competition from China. He stated, &#8220;Frankly, I think if there are no trade barriers established, they will pretty much demolish most other car companies in the world.&#8221;
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/news/24/05/38582801/s-p-dials-down-teslas-governance-score-amid-concerns-over-elon-musks-dominance-but-retains-bbb-credi">S&amp;P Dials Down Tesla&#8217;s Governance Score Amid Concerns Over Elon Musk&#8217;s Dominance — But Retains &#8216;BBB&#8217; Credit Rating</a>
<a href="https://www.flickr.com/photos/techcrunch/53202133526/in/photolist-2p4hQLf-9fzgmE-2qhYzP-WgnfHd-M6tKvK-2p4jpr6-2p4hQLq-2p4jyV7-2p4hQLa-a5uY5c-2p4cTn3-2p4iZdL-2p4jz12-2p4hQMs-2p4hQKP-2p4jpw1-2p4jyZF-2p4hQLR-2p4cTn8-2p4jpvz-WvTDZ-nNPCxS-2p4jz1s-2p4hQGY-2p4jpv9-dVev5b-2p4jprb-2p4jyZf-WN5dvw-WN5rKC-WQj3VP-eZCbQY-WN5t75-WeWBTq-Vy75Vs-WAEhob-feXNbo-2p4cTq9-WN5ewQ-WN5qYY-VC6mNg-Wzd9Qo-2p4cTnd-BFdukm-WAEhRf-VC6sVr-WN5sff-WLDhNA-dRFj26-WLDgym" target="_blank" rel="noreferrer noopener">Photo</a> via TechCrunch On Flickr

'US Is Currently Sc***ed:' Ex-Cruise CEO Calls For Manufacturing Makeover To Win Over Chinese Auto Rivals 'Because Tariffs Won't Get Us Out Of This Rut'

With U.S. stock futures trading higher this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) to report quarterly earnings at $2.76 per share on revenue of $3.11 billion after the closing bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Hershey shares rose 0.5% to $196.80 in after-hours trading.</li>
<li>Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reported better-than-expected results for its second quarter. The company announced a $110-billion stock buyback program and a one-penny-per-share increase in its quarterly dividend. Apple shares gained 6% to $183.46 in the after-hours trading session.</li>
<li>Analysts are expecting American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) to post quarterly earnings at 2 cents per share on revenue of $1.53 billion. The company will release earnings before the markets open. American Axle shares gained 4.5% to $7.65 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) reported upbeat sales for its first quarter. The company reported GAAP EPS of $4.40. Coinbase said it sees second-quarter subscription and services revenue to be in a range of $525 million to $600 million. Coinbase shares fell 2.2% to $223.73 in the after-hours trading session.</li>
<li>Analysts expect Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>) to post quarterly earnings at 54 cents per share on revenue of $4 billion before the opening bell. Fluor shares rose 0.4% to $41.39 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38582620/jim-cramer-this-pc-maker-is-a-good-stock-to-own-okta-is-terrific">Jim Cramer: This PC Maker Is A &#8216;Good Stock To Own&#8217;, Okta Is &#8216;Terrific&#8217;</a>

Earnings Beats

AAPL

COIN

Apple, Hershey And 3 Stocks To Watch Heading Into Friday

Kolibri Global Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KGEI#NASDAQ">KGEI</a>) reported quarterly earnings of $0.14 per share. This is a 75 percent increase over earnings of $0.08 per share from the same period last year. The company reported $9.73 million in sales this quarter. This is a 27.57 percent decrease over sales of $13.44 million the same period last year.

KGEI

Kolibri Global Energy Q4 EPS $0.14 Up From $0.08 YoY, Sales $9.73M Down From $13.44M YoY

Gerdau (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GGB#NYSE">GGB</a>) reported B$16.210 billion in sales this quarter. This is a 14.11 percent decrease over sales of B$18.872 billion the same period last year.

Gerdau Q1 Sales R$16.210B Down From R$18.872B YoY; Adj. Net Income R$1.245B Down From R$2.388B YoY

CNBC&#8217;s Jim Cramer has expressed his support for the initial public offering of Viking Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIK#NYSE">VIK</a>), despite its high valuation.
What Happened: Cramer, on his show &#8220;Mad Money&#8221; on Thursday, discussed the IPO of Viking, a luxury cruise line, which is the largest IPO of the year so far, <a href="https://www.cnbc.com/2024/05/02/cramer-says-hes-willing-to-pay-up-for-viking-biggest-ipo-of-the-year.html">reported</a> CNBC. 
He noted that Viking&#8217;s stock is more expensive than its peers but still believes it&#8217;s a good investment.
Viking&#8217;s IPO was priced at $24 per share and began trading at $26.15 on Wednesday, closing at $26.10. The stock further rose to $26.99 on Thursday.
"Even though Viking's somewhat hot start has made its stock more expensive than its cruise line peers, I am willing to pay up for this one, because I think it's going to be a winner," he said.
Cramer highlighted Viking&#8217;s unique selling points, such as its ships not having casinos and being adults-only, as well as its focus on affluent customers and niche destinations. He believes these factors give Viking a competitive edge.
"Viking's got a cleaner balance sheet than its peers, differentiated brand, it caters exclusively to high-end customers &#8230; part of the business I expect to hold up better than the mass market side of things," he said.
Despite Viking&#8217;s preliminary first-quarter results showing a slowdown in growth since the pandemic, Cramer remains optimistic about its future. He acknowledged that Viking&#8217;s balance sheet isn&#8217;t perfect, but he sees it as a better option compared to other publicly traded cruise lines.
See Also: <a href="https://www.benzinga.com/news/24/04/38490818/if-you-invested-1000-in-chipotle-mexican-grill-a-decade-ago-this-is-how-much-itd-be-worth-now?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Invested $1000 in Chipotle Mexican Grill a Decade Ago, This is How Much It&#8217;d Be Worth Now</a>
He suggested that investors buy Viking stock at its current price, even though he would prefer it to be more in line with its peers, which he estimates to be around $20. Cramer believes Viking&#8217;s unique business model and target audience justify its premium valuation.
Why It Matters: Viking&#8217;s IPO comes at a time of optimism for the stock market. In March, Bank of America&#8217;s technical strategist, Stephen Suttmeier, predicted that the S&amp;P 500 could <a href="https://www.benzinga.com/markets/equities/24/03/37926504/stock-market-could-rally-another-34-by-2026-says-bank-of-america">surge by 34%</a> by the end of 2026, with no end in sight for the secular bull rally.
Moreover, the cruise industry has been innovating to attract new customers. For instance, Virgin Voyages recently introduced <a href="https://www.benzinga.com/news/24/04/38104334/workplace-on-waves-richard-branson-launches-remote-work-boat-with-virgin-voyages-extended-sea-workat">a month-long cruise package</a> specifically designed for remote workers, combining work and travel in an unprecedented way.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38540161/is-bitcoin-heading-for-a-dip-ahead-of-fomc-analyst-predicts-potential-cascade-towar?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Is Bitcoin Heading For A Dip Ahead Of FOMC? Analyst Predicts Potential &#8216;Cascade Towards $55-58K&#8217; Before Rebound</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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IPOs

Jim Cramer Backs Viking's IPO Despite Premium Price: 'I Think It's Going To Be A Winner'

Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reported&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/05/38599545/apple-q2-earnings-beats-muted-forecast-on-services-mac-strength-installed-base-at-fresh-record-cupe" rel="noreferrer noopener">a modest beat on its quarterly earnings</a>&nbsp;and issued June-quarter revenue guidance that wasn&#8217;t as bad as feared. The stock, however, took off thanks to the company&#8217;s generous shareholder return plan. Apple hiked its quarterly dividend by 4.17% and announced its biggest-ever stock buyback, which surprised even&nbsp;Tesla&#8216;s Technoking.
What Happened: News of Apple&#8217;s massive $110 billion stock buyback program was posted online by global capital markets commentator&nbsp;The Kobeissi Letter. The iPhone maker&#8217;s largesse toward shareholders caught the eye of Tesla CEO&nbsp;Elon Musk. He simply replied &#8220;Wow&#8221; to the post by The Kobeissi Letter.&nbsp;
The Kobeissi Letter replied to Musk saying there&#8217;s a trend of big tech companies ramping up buybacks, with U.S. stock repurchases expected to cross $1 trillion for the first time&nbsp;ever&nbsp;this year. &#8220;All eyes are on Tesla&#8230;&#8221; it added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Big tech stock buybacks are ramping up and total US stock buybacks are set to cross $1 trillion for the first time ever this year. All eyes are on Tesla&#8230;&#x1f440;
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1786254589668323393?ref_src=twsrc%5Etfw">May 3, 2024</a></blockquote>
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See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/everything-you-need-to-know-about-apple-stock" rel="noreferrer noopener">Everything You Need To Know About Apple Stock</a>
Tesla&#8217;s Buyback Dilemma:&nbsp;In 2022, Tesla faced pressure from investors to initiate buybacks to lift its stock price. Musk mentioned in October 2022 that a $5 billion to $10 billion buyback for 2023 was discussed &#8220;extensively&#8221; by the board. However, the capital-intensive nature of the electric vehicle industry necessitates constant investment in production.&nbsp;
Currently, Tesla is navigating&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38257532/tesla-stock-tumbles-as-category-5-demand-storm-persists-whats-going-on" rel="noreferrer noopener">a &#8220;Category 5 storm&#8221;</a>&nbsp;of waning demand and fierce competition, making capital preservation even more crucial.
Cook Draws Some Flak:&nbsp;&nbsp;Not everyone is applauding Apple&#8217;s buyback plan. Some social media users criticized CEO&nbsp;Tim Cook&nbsp;for prioritizing numbers and investor appeasement over innovation.&nbsp;
One user commented, &#8220;Tim Cook will go down as one of the worst CEOs in history I predict. What happens when you replace a &#8216;visionary&#8217; product-centric CEO with a numbers-focused CEO only concerned about profits &amp; share price? Innovation stagnates as there is 0 risk tolerance or vision&nbsp;4&nbsp;future.&#8221;
&#8216;Mag 7&#8217; Pressure? Alphabet became the latest &#8220;Magnificent Seven&#8221; company to <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more" target="_blank" rel="noreferrer noopener">initiate a dividend policy</a>, leaving only Amazon and Tesla as holdouts in this elite group. Microsoft said it returned $8.4 billion to shareholders in the form of share repurchases and dividends in the third quarter, while Facebook parent Meta Platforms also announced in February that, for the very first time, it will be rewarding its shareholders with dividends.
Price Action: Apple shares added 6.03% to $183.46 in after-hours trading, according to<a href="https://benzinga.grsm.io/lxquj26b2sag"> Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38604705/gene-munsters-take-on-apples-q2-beat-june-quarter-guidance-things-get-easier-for-ap">Gene Munster&#8217;s Take On Apple&#8217;s Q2 Beat, June Quarter Guidance: &#8216;Things Get Easier For Apple In The Back Half Of Year&#8217;</a>
Photo by Frederic Legrand &#8211; COMEO on Shutterstock

Dividends

Buybacks

Elon Musk Wowed By Apple's Biggest Stock Buyback — Will Tesla Follow Suit Or Remain Stuck In 'Category 5' Storm?

Plains All American Pipeline, L.P.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) is expected to release earnings results for its first quarter, before the <a href="https://www.benzinga.com/quote/PAA/analyst-ratings">opening bell on May 3</a>.
Analysts expect the Houston, Texas-based company to report quarterly earnings at 39 cents per share, down from 41 cents per share in the year-ago quarter. Plains All American Pipeline is projected to report quarterly revenue of $12.98 billion, compared to $15.34 billion in the year-earlier quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Feb. 9, Plains All American Pipeline reported fourth-quarter fiscal 2023 revenue of $12.698 billion, in line with the consensus of $12.694 billion.
Plains All American Pipeline shares rose 1.8% to close at $17.23 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/PAA/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Stifel analyst Selman Akyol maintained a Buy rating and raised the price target from $18 to $22 on April 16. This analyst has an accuracy rate of 71%.</li>
<li>UBS analyst Shneur Gershuni maintained a Buy rating and increased the price target from $21 to $22 on April 12. This analyst has an accuracy rate of 80%.</li>
<li>Goldman Sachs analyst John Mackay maintained a Sell rating and boosted the price target from $14.5 to $16 on April 12. This analyst has an accuracy rate of 71%.</li>
<li>Citigroup analyst Spiro Dounis maintained a Neutral rating and raised the price target from $16.5 to $17.5 on March 1. This analyst has an accuracy rate of 69%.</li>
<li>Barclays analyst Theresa Chen downgraded the stock from Equal-Weight to Underweight with a price target of $15 on Sept. 25, 2023. This analyst has an accuracy rate of 82%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38582505/wall-streets-most-accurate-analysts-say-buy-these-3-utilities-stocks-with-over-3-dividen">Wall Street&#8217;s Most Accurate Analysts Say Buy These 3 Utilities Stocks With Over 3% Dividend Yields</a>

Price Target

Plains All American Pipeline Gears Up For Q1 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Soleno has also granted the underwriters a 30-day option to purchase up to 450,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The public offering is expected to close on or about May 7, 2024, subject to market conditions and the satisfaction of customary closing conditions

SLNO

Reported Earlier, Soleno Therapeutics Prices $138M Public Offering Of 3M Common Stock At $46/Share

In response to mounting criticism over its <a href="https://www.benzinga.com/news/24/04/38190146/microsofts-latest-security-breach-whats-at-stake-for-company-integrity-and-trust">handling of cyberattacks</a>, Satya Nadella-led Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has announced the appointment of new security chiefs to its product groups.
What Happened: The tech giant has named Ann Johnson as the deputy chief information security officer or CISO to oversee communication and outreach regarding the company&#8217;s security, <a href="https://www.bloomberg.com/news/articles/2024-05-02/microsoft-adds-security-chiefs-to-product-groups-in-wake-of-hacking-woes?srnd=technology-vp">reported</a> Bloomberg on Friday. 
Johnson, who has been with Microsoft since 2015, will focus on customer engagement and communication about the company&#8217;s security. 
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Microsoft is also adding deputy CISOs to its product groups, with the new appointees reporting to Igor Tsyganskiy, the global CISO. The company, however, did not disclose the names of these new officials.
Why It Matters: Microsoft has been grappling with a <a href="https://www.benzinga.com/markets/equities/24/03/37561005/microsoft-says-russian-hackers-stole-code-after-spying-on-top-executives-attack-still-ongoing">string of security breaches</a>, raising concerns about the company&#8217;s integrity and trust. 
In April, it was reported that internal company files and credentials were exposed to the internet, and in January, the <a href="https://www.benzinga.com/news/24/01/36705147/microsofts-top-executives-emails-breached-by-russian-intelligence-group-responsible-for-solarwinds-h">email accounts of top Microsoft executives</a> were breached by a Russian intelligence group. 
These incidents have led to calls for urgent reforms and mandatory cybersecurity standards for collaboration software, with <a href="https://www.benzinga.com/government/24/04/38439394/ai-is-going-well-for-microsoft-but-cybersecurity-is-not">some questioning the effectiveness</a> of Microsoft&#8217;s Secure Future Initiative.
Despite these challenges, <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more">Microsoft saw a 17% year-over-year</a> rise in third-quarter revenue, reaching $61.9 billion, surpassing the consensus estimate of $60.804 billion, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38480373/musk-vs-moskovitz-rages-on-as-tesla-ceo-trolls-facebook-co-founders-company-why-would-anyone-pay-mon?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Musk Vs. Moskovitz Rages On As Tesla CEO Trolls Facebook Co-Founder&#8217;s Company: &#8216;Why Would Anyone Pay Money For Functionality That Comes For Free On Your Phone?&#8217;</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

MSFT

Satya Nadella-Led Microsoft To Beef Up Security Team After Facing Criticism Over Cyberattacks

As Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reports its <a href="https://www.benzinga.com/news/earnings/24/05/38599545/apple-q2-earnings-beats-muted-forecast-on-services-mac-strength-installed-base-at-fresh-record-cupe">second-quarter 2024 earnings</a>, CEO Tim Cook has criticized the U.S. Department of Justice&#8217;s or DOJ antitrust lawsuit against the tech giant, calling it &#8220;misguided.&#8221;
What Happened: On Thursday, Apple reported its second-quarter results that outperformed&nbsp;<a href="https://www.benzinga.com/news/earnings/24/05/38580920/will-apple-crack-ai-code-and-spark-investor-optimism-tim-cooks-tech-strategy-in-focus-amid-expected" target="_blank" rel="noreferrer noopener">muted goals</a>. During the same time, Cook gave an interview to CNBC and addressed the DOJ&#8217;s antitrust lawsuit against the tech giant, <a href="https://www.theverge.com/2024/5/2/24147601/tim-cook-calls-dojs-antitrust-case-against-apple-misguided-in-first-public-comments-on-lawsuit">reported</a> The Verge. 
He called the case &#8220;misguided&#8221; and promised Apple would contest it. He also expressed concern about the lawsuit becoming a &#8220;distraction&#8221; for the company.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38512965/youtube-tech-reviewer-mkbhd-deems-rabbit-r1-barely-reviewable-after-humane-ai-pin-takedown-its-just?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">YouTube Tech Reviewer MKBHD Deems Rabbit R1 &#8216;Barely Reviewable&#8217; After Humane AI Pin Takedown: &#8216;It&#8217;s Just Exhausting&#8217;</a>
&#8220;I think the case is misguided, and we're going to fight it,&#8221; he said, adding, &#8220;It's my job to make sure it doesn't become a distraction. And so, you know, if you look at what they're trying to do, is essentially use the law to define how we design products. And that shouldn't be like that.&#8221;
Why It Matters: The DOJ filed the&nbsp;<a href="https://www.benzinga.com/news/24/03/37862409/apple-accused-of-illegally-maintaining-iphone-dominance-in-upcoming-doj-lawsuit-report">lawsuit against Apple</a> in March&nbsp;after a lengthy investigation. 
The department alleges&nbsp;that Apple has engaged in&nbsp;anticompetitive behavior&nbsp;by making it difficult for&nbsp;users to switch to other&nbsp;platforms. This included restricting iPhone technologies to its apps and services,&nbsp;keeping iMessage exclusive to Apple&nbsp;devices, limiting third-party digital wallets,&nbsp;and restricting Apple Watch compatibility.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Apple has strongly refuted these claims. The company previously stated that the <a href="https://www.benzinga.com/markets/equities/24/03/37872817/apple-says-dangerous-doj-lawsuit-threatens-who-we-are-vows-to-fight-against-it">lawsuit &#8220;threatens who we are&#8221;</a> and undermines the company&#8217;s principles. The company also argues&nbsp;that the lawsuit sets a&nbsp;&#8220;dangerous precedent&#8221; by allowing governments to dictate how technology is designed.
&#8220;We believe this lawsuit is wrong on the facts and the law, and we will vigorously defend against it,&#8221; Apple told Benzinga in March in an emailed statement. 
Photo Courtesy: Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38480373/musk-vs-moskovitz-rages-on-as-tesla-ceo-trolls-facebook-co-founders-company-why-would-anyone-pay-mon?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Musk Vs. Moskovitz Rages On As Tesla CEO Trolls Facebook Co-Founder&#8217;s Company: &#8216;Why Would Anyone Pay Money For Functionality That Comes For Free On Your Phone?&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Legal

Tim Cook Blasts DOJ's Antitrust Lawsuit Against Apple, Says He's Going To Make Sure It Doesn't Become A Distraction: 'We're Going To Fight It'

Renowned economist and gold advocate Peter Schiff used the drastic plunge in Peloton Interactive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTON#NASDAQ">PTON</a>) stock to illustrate his theory on the mispricing of gold mining stocks.
What Happened: Schiff highlights the staggering 98.5% decline in Peloton&#8217;s stock, which reached a record low of $2.70. He emphasized how this situation mirrors the current state of gold mining stocks, but in reverse.
&#8220;#Peloton stock is down another 13% today, hitting another record low of $2.70. During the pandemic shares traded as high as $171. That&#8217;s a decline of 98.5%. This shows how badly stocks can be mispriced. The same situation exists today with #gold mining stocks, only in reverse,&#8221; Schiff wrote on X. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Peloton?src=hash&amp;ref_src=twsrc%5Etfw">#Peloton</a> stock is down another 13% today, hitting another record low of $2.70. During the pandemic shares traded as high as $171. That&#39;s a decline of 98.5%. This shows how badly stocks can be mispriced. The same situation exists today with <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> mining stocks, only in reverse.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1786052596706247091?ref_src=twsrc%5Etfw">May 2, 2024</a></blockquote>
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Schiff&#8217;s commentary highlighted the drastic decline in Peloton stock, shedding light on the potential for mispricing in the market. This phenomenon is evident in the gold mining sector, albeit in reverse. 
Schiff&#8217;s commentary comes as gold mining stocks exhibit varied performance. Barrick Gold Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) is currently trading at $16.55, marking a 7.44% decline year to date. US Goldmining Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USGO#NASDAQ">USGO</a>) is trading at $6.09, experiencing a 17.37% decrease year to date. SSR Mining Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSRM#NASDAQ">SSRM</a>) is priced at $5.40, reflecting a 49.30% decrease year to date. Conversely, Kinross Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>) is trading at $6.55, indicating a 10.64% increase year to date, while Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) is at $41.05, showing a modest 0.34% uptick year to date.<a href="https://twitter.com/PeterSchiff/status/1786052596706247091"></a>
See Also: <a href="https://www.benzinga.com/partner/commodities/24/04/38487758/why-gold-prices-are-at-record-highs-and-what-it-means-for-miners?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Gold Prices Are At Record Highs And What It Means For Miners</a>
Why It Matters: Schiff&#8217;s remarks come in the wake of a series of events that have impacted the financial markets. Earlier in April, Schiff&#8217;s firm, Schiff Gold, suggested that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38397480/gold-to-rally-even-higher-on-nvidia-big-tech-schiffs-firm-says-ai-has-looped-around">gold could rally even higher</a> due to its increasing use in technology, a trend that may not be fully appreciated by the market.
At the same time, Schiff has been a vocal critic of cryptocurrencies, challenging the predictions of a $100,000 Bitcoin price and suggesting that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38265256/peter-schiff-challenges-bitcoins-100k-prediction-as-crypto-linked-stocks-languish-i">crypto-linked stocks are languishing</a> in a bear market despite Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price movements.
Meanwhile, the global economy has been showing signs of resilience, with the&nbsp;Organization for Economic Cooperation and Development&nbsp;revising its 2024 <a href="https://www.benzinga.com/news/24/05/38575037/world-economy-seeks-to-avoid-stagflation-as-oecd-lifts-global-growth-forecast-for-2024">growth forecast upwards</a>, indicating a potential escape from a stagflationary rut. This could have implications for the broader market, including the gold mining sectors.
Amid these developments, Schiff&#8217;s comments on the mispricing of gold mining stocks and the Peloton stock&#8217;s dramatic decline serve as a reminder of the potential risks and opportunities in the current market environment.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38570836/bitcoins-historical-data-suggests-a-potential-99-surge-says-crypto-analyst-time-to-buy-the?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s Historical Data Suggests A Potential 99% Surge, Says Crypto Analyst: &#8216;Time To Buy The Dip!&#8217;</a>
Image Via Wikimedia Commons
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

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Peter Schiff Highlights Pandemic Darling Stock's 98.5% Decline To Make A Point About Mispriced Gold Mining Stocks: 'Same Situation Exists Today'

The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) is set to release earnings results for its first quarter before the <a href="https://www.benzinga.com/quote/HSY/earnings">opening bell on May 3, 2024.</a>
Analysts expect the Hershey, Pennsylvania-based company to report quarterly earnings at $2.76 per share, down from $2.96 per share in the year-ago period. Hershey is projected to report quarterly revenue of $3.11 billion, compared to $2.99 billion in the year-earlier quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Feb. 8, Hershey reported mixed fourth-quarter financial results and raised its quarterly dividend.
Hershey shares rose 1.1% to close at $195.88 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/HSY/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Wells Fargo analyst Chris Carey maintained an Equal-Weight rating and cut the price target from $205 to $200 on April 17. This analyst has an accuracy rate of 64%.</li>
<li>Piper Sandler analyst Michael Lavery maintained a Neutral rating and slashed the price target from $200 to $179 on April 15. This analyst has an accuracy rate of 71%.</li>
<li>Morgan Stanley analyst Pamela Kaufman downgraded the stock from Equal-Weight to Underweight and cut the price target from $191 to $183 on Feb. 12. This analyst has an accuracy rate of 66%.</li>
<li>Barclays analyst Lauren Lieberman maintained an Equal-Weight rating and boosted the price target from $200 to $210 on Feb. 12. This analyst has an accuracy rate of 60%.</li>
<li>JP Morgan analyst Ken Goldman maintained a Neutral rating and increased the price target from $185 to $193 on Feb. 9. This analyst has an accuracy rate of 80%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/news/24/05/38582620/jim-cramer-this-pc-maker-is-a-good-stock-to-own-okta-is-terrific">Jim Cramer: This PC Maker Is A &#8216;Good Stock To Own&#8217;, Okta Is &#8216;Terrific&#8217;</a>

Hershey Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Robert Kiyosaki, the author of the best-selling book &#8220;Rich Dad Poor Dad,&#8221; has shared his strategy for navigating the ongoing Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) market crash, highlighting the potential for wealth growth during such periods.
What Happened: Kiyosaki took to social media platform X, to share his insights on the current market situation. He began by acknowledging the commencement of a &#8220;bad&#8221; crash, but also pointed out that such downturns present unique opportunities for wealth accumulation.
He warned against the devaluation of fiat currencies and encouraged his followers to view the crash as a potential turning point in their financial journey.
&#8220;DON'T SAVE MONEY: Fake money (US dollar, Euro, Yen, Peso) goes down in value. Save gold, silver, Bitcoin, real money that goes up in value, especially in a market crash. TAKE CARE and make this CRASH the best thing that ever happened to you,&#8221; Kiyosaki said. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BAD NEWS: CRASH has BEGUN. It will be a bad one. GOOD NEWS: CRASHES are the best time to get rich. Bargains will float to the surface. RULES to REMEMBER in a CRASH: 1: DON'T CATCH FALLING KNIVES: Just because prices are falling DO NOT get GREEDY. Wait til prices have…
&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1786227254168629296?ref_src=twsrc%5Etfw">May 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The author outlined six rules to follow during a market crash. These included refraining from making impulsive investment decisions, seeking out reliable sources of information, surrounding oneself with like-minded individuals, starting a side business, choosing the right mentors, and investing in assets that retain or increase in value, such as gold, silver, and Bitcoin.
See Also: <a href="https://www.benzinga.com/partner/commodities/24/04/38464603/insider-buying-vuzix-nasdaq-vuzi-executives-including-ceo-snap-up-shares?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">INSIDER BUYING: Vuzix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VUZI#NASDAQ">VUZI</a>) Executives Including CEO Snap Up Shares</a>
Why It Matters: Kiyosaki&#8217;s advice comes at a time when the global economy is facing significant challenges. The U.S. is grappling with the specter of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38480911/stagflation-spectre-haunts-us-economy-experts-warn-on-slow-growth-and-inflation-aft">stagflation</a>, a scenario characterized by slow growth and rising inflation. This has led to concerns about the future of the economy.
The Federal Reserve has decided to&nbsp;<a href="https://www.benzinga.com/news/econ-s/24/05/38561640/fed-keeps-interest-rates-steady-announces-slower-than-expected-pace-of-balance-sheet-runoff" target="_blank" rel="noreferrer noopener">keep interest rates steady</a>, emphasizing the need to allow more time for restrictive monetary policies to bring inflation towards the Fed's 2% goal. This decision has had a significant impact on market dynamics.
"The inflation data received so far this year have been higher than expected," Federal Reserve Chair&nbsp;Jerome Powell&nbsp;said on Wednesday, adding that it is likely that gaining&nbsp;<a href="https://www.benzinga.com/markets/equities/24/05/38563545/powell-keeps-hawks-at-bay-says-interest-rate-hike-unlikely-stocks-gold-rally-while-treasury-yiel" target="_blank" rel="noreferrer noopener">greater confidence in disinflation</a>&nbsp;will take longer than previously thought.
However, there are also signs of resilience in the global economy, with the <a href="https://www.benzinga.com/news/24/05/38575037/world-economy-seeks-to-avoid-stagflation-as-oecd-lifts-global-growth-forecast-for-2024">OECD revising its 2024 growth forecast upwards</a>. This indicates a potential escape from the stagflationary trend, offering a glimmer of hope for the future.
Earlier in the year, Kiyosaki had also <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37922090/rich-dad-poor-dad-author-robert-kiyosaki-says-buy-as-much-bitcoin-as-you-can-afford">expressed his bullish stance on Bitcoin</a>, urging investors to buy as much as they could afford. His recent strategy aligns with this stance, emphasizing the potential of Bitcoin as a valuable asset during market downturns.
Price Action: Bitcoin is presently trading at $59,7790, up 1.19% over the last 24 hours. Nonetheless, it has surged by 35.31% since the beginning of the year, according to the data <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38490818/if-you-invested-1000-in-chipotle-mexican-grill-a-decade-ago-this-is-how-much-itd-be-worth-now?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Invested $1000 in Chipotle Mexican Grill a Decade Ago, This is How Much It&#8217;d Be Worth Now</a>
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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'Rich Dad Poor Dad' Author Robert Kiyosaki Unveils His Bitcoin Strategy Amid Market Crash: 'The Best Time To Get Rich'

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	The post <a href="https://investorplace.com/earning-results/2024/04/dbgi-stock-earnings-digital-brands-group-for-q4-of-2023/">DBGI Stock Earnings: Digital Brands Group Reported Results for Q4 2023</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

DBGI Stock Earnings: Digital Brands Group Reported Results for Q4 2023

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Press Releases

Digital Brands Group Reports Third Quarter 2023 Financial Results

Offerings

Digital Brands Group Announces Conversion of All Remaining Pre-Funded Warrants, Removing Overhang of Shares

Digital Brands Group Forecasts $27M to $30M in Revenue, $6M to $7M in Internal Free Cash Flow and $1.5M to $2.0M in EBITDA for 2024

Digital Brands Group Signs Letter of Intent to Open First Retail Store in March

DBG Plans to Open 50 Retail Stores Over Next Several Years Funded By Internal Free Cash Flow

DBGI Reaffirms its 2024 Guidance and Commits to No Equity Offerings for 2024

Opinion

Thinking about buying stock in Digital Brands Group, Tourmaline Bio, Crown Electrokinetics, Datadog, or UiPath?

Digital Brands Group To Open First Retail Store in First Half of April in Dallas, Texas

Digital Brands Group to Report Fourth Quarter and Fiscal Year 2023 Financial Results on Monday, April 15, 2024

Digital Brands Group Reports Fourth Quarter and Fiscal Year 2023 Financial Results

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Digital Brands Group Stock (NASDAQ:DBGI), Short Interest Report

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