Dingdong (Cayman) (NYSE:DDL) Stock, Quote.Headers.trade-ideas

Dingdong (Cayman)

Dingdong (Cayman) Ltd is the fastest growing on-demand e-commerce company in China. The company directly provides users and households with fresh produce, meat and seafood, and other daily necessities through a convenient shopping experience supported by an extensive self-operated frontline fulfillment grid. It recognizes revenues from product sales of fresh groceries and other daily necessities through Dingdong Fresh APP and mini-programs and membership services.

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Citigourp Global Markets 2% Protected Notes Linked To The Djia

Key Takeaways:


	Dingdong’s revenue grew slightly in the first quarter, ending more than a year of revenue contraction
	The company recorded its second quarterly net profit since its listing and said it expects both revenue and profit to post “considerable year-over-year growth” this year


By Doug Young

Dingdong Rings Back To Revenue Growth, Posts Quarterly Net Profit

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Why Akoustis Technologies Shares Are Trading Lower By Around 18%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

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Key Takeaways:


	Dingdong’s revenue decreased about 14% year-on-year in the third quarter as it withdrew from less profitable cities
	The company is resorting to cost cuts and interest income to stay in the black, while trying to boost sales of higher-margin private label products


By Warren Yang

Dingdong Rings Up More Profits As Revenue Sags

Dingdong (Cayman) Limited American Depositary Shares (each two representing three Ordinary Shares)

Dingdong (Cayman) Ltd

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<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Ftrisaluslifesci.com%2F&amp;esheet=54124814&amp;newsitemid=20240919558761&amp;lan=en-US&amp;anchor=TriSalus+Life+Sciences%26%23174%3B%2C+Inc.&amp;index=1&amp;md5=99cfa17a1abb371957d4eef59928821a">TriSalus Life Sciences&#xAE;, Inc.</a> ("TriSalus" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLSI#NASDAQ">TLSI</a>), an oncology company integrating its novel delivery technology with standard of care therapies and immunotherapy to transform treatment for patients with liver and pancreatic tumors, announced today the publication of research titled, "Intra-arterial Pressure-Enabled Drug Delivery Significantly Increases Penetration of Glass Microspheres in a Porcine Liver Tumor Model," in the peer-reviewed Journal of Vascular and Interventional Radiology. The article illustrates that the PEDD method via the TriNav Infusion System significantly improved delivery of glass microspheres (GM) with deeper penetration into liver tumors and the peritumoral tissue, when compared to delivery of GM with a conventional microcatheter in a transgenic (oncopig) model.
"This is another example of how our PEDD approach effectively tackles a significant challenge in cancer care by ensuring the selective and increased delivery of therapeutics to the tumor. This research advances and validates our understanding of the PEDD method, providing high-resolution evidence of enhanced delivery," said Bryan F. Cox, Ph.D., Chief of Research for TriSalus. "With both proximal and distal placements of the PEDD device, we observed significantly improved delivery of glass microspheres to the tumor, quantified on a millimeter scale. The strength of the proximal infusion data suggests an opportunity to selectively target multiple tumors simultaneously in patients with heavy disease burdens."
"These results contribute to the substantial and expanding body of pre-clinical and clinical evidence supporting the wide-ranging potential applicability of the PEDD approach," said Mary Szela, Chief Executive Officer and President of TriSalus. "Efficient delivery of therapeutics into tumor cells without causing harm to off-target normal tissue remains a real-world challenge in cancer care, and the PEDD approach aims to overcome this obstacle. This publication strengthens our current understanding that, regardless of placement of the technology, either lobar or selective infusions, the PEDD method increased glass microspheres delivery uptake compared to conventional microcatheters. The TriNav device signifies a potential breakthrough in delivering glass microspheres and other drugs into tumors in a highly controlled and targeted manner."
"This study shows the potential of PEDD method to address an unmet need in liver cancer therapy – achieving the same safety profile of selective Y90 treatment to those performed for more advanced diffuse disease using lobar injections. This study suggests that the use of PEDD method alters hemodynamics and the microenvironment in a manner resulting in higher concentrations of microspheres in the tumor compared to the adjacent liver parenchyma, thereby offering the ability to increase efficacy and improve safety. If further validated in human models, this may represent a significant advancement in the management of liver cancer," said Dr. Riad Salem, Chief of Interventional Radiology, and Professor of Radiology, Surgery, and Medicine in Chicago.
The research involved transgenic pigs (oncopigs) with induced liver tumors. These tumors were intra-arterially infused with fluorescently labeled GM. The PEDD method with the TriNav device was compared to the use of conventional microcatheter delivery in both lobar and selective infusions. Near-infrared (near IR) imaging was utilized to detect the GM fluorescent signal in tumors. The results showed significant increases in GM signal intensity in and around tumors after delivery with the PEDD method, with a 117% increase in tumor penetration with lobar infusions and a 39% increase with selective infusions compared to conventional delivery. Lobar PEDD delivery of GM to the tumor was statistically equivalent to conventional selective delivery (p=0.497).

TLSI

TriSalus PEDD Method Increases Microsphere Penetration in Liver Tumors, Study Highlights New Delivery Approach

The most oversold stocks in the health care sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Progyny Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGNY#NASDAQ">PGNY</a>)</h3>
<ul>
<li>On Sept. 19, the company said a client elected to exercise an option to terminate its services agreement with the company. The company's stock fell around 32% over the past five days and has a <a href="https://www.benzinga.com/quote/PGNY">52-week low of $13.93</a>.</li>
<li>RSI Value: 26.50</li>
<li>PGNY Price Action: Shares of Progyny rose 1% to close at $16.62 on Friday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092324&amp;t=be2bearmibe3na1"> latest PGNY news.</a> </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="895" height="840" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23071143/image-171.png" alt="" class="wp-image-560811" style="width:671px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23071143/image-171.png 895w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23071143/image-171-300x282.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23071143/image-171-768x721.png 768w" sizes="(max-width: 895px) 100vw, 895px" /></a></figure>
<h3 class="wp-block-heading">Indivior PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDV#NASDAQ">INDV</a>)&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On Sept. 4, Indivior issued an update on Aelis Farma&#8217;s Phase 2B study with AEF0117 in participants with cannabis use disorder. It <a href="https://www.benzinga.com/quote/INDV">has a 52-week low</a> of $9.14.</li>
<li>RSI Value: 25.92</li>
<li>RELI Price Action: Shares of Indivior fell 2.1% to close at $9.48 on Friday.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092324&amp;t=be2bearmibe3na1"> trend in INDV stock</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="907" height="847" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23071157/image-172.png" alt="" class="wp-image-560812" style="width:651px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23071157/image-172.png 907w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23071157/image-172-300x280.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23071157/image-172-768x717.png 768w" sizes="(max-width: 907px) 100vw, 907px" /></a></figure>
<h3 class="wp-block-heading">Moderna Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>)</h3>
<ul>
<li>On Sept. 17, Moderna announced that Health Canada approved its vaccine, SPIKEVAX, which aids in preventing COVID-19 in people six months of age or older.The vaccine targets the KP.2 variant of COVID-19. The company plans to begin delivery of the vaccine to the Public Health Agency of Canada shortly. "With the recent increase in COVID-19-infections, staying up to date with your COVID-19 vaccination remains one of the best ways to help protect yourself from severe illness," said Dr. Shehzad Iqbal, country medical director, Moderna Canada. The company's shares fell around 20% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/MRNA">low of $62.55</a>.</li>
<li>RSI Value: 28.17</li>
<li>MRNA Price Action: Shares of Moderna fell 3.4% to close at $65.69 on Friday.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092324&amp;t=be2bearmibe3na1">breakout in MRNA shares</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="906" height="838" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23071229/image-173.png" alt="" class="wp-image-560813" style="width:610px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23071229/image-173.png 906w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23071229/image-173-300x277.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23071229/image-173-768x710.png 768w" sizes="(max-width: 906px) 100vw, 906px" /></a></figure>
Read Next:<a href="https://www.benzinga.com/markets/24/09/40962695/jim-cramer-viking-has-many-ships-coming-in"> </a>
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<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Forthofix.com%2F&amp;esheet=54125379&amp;newsitemid=20240923211580&amp;lan=en-US&amp;anchor=Orthofix+Medical+Inc&amp;index=1&amp;md5=f980520f95bd1a9234c20487cdf8b284">Orthofix Medical Inc</a>. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OFIX#NASDAQ">OFIX</a>), a leading global medical technology company, today announced the presentation of new data supporting the use of Orthofix's proprietary Pulsed Electromagnetic Field (PEMF) stimulation to increase fusion rates as an adjunct to lumbar spine fusion surgery. Patients treated with the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fbonegrowththerapy.com%2Ftherapies%2Fspinal-fusion%2Fspinalstim-lumbar-fusion%2F&amp;esheet=54125379&amp;newsitemid=20240923211580&amp;lan=en-US&amp;anchor=SpinalStim&amp;index=2&amp;md5=c26f0cc0fb348022b3ce0b675596e790">SpinalStim</a>&#x2122; bone growth therapy device demonstrated a high rate of successful fusion with significant improvements in pain, function and quality of life, despite having risk factors for pseudarthrosis.
The abstract will be presented by Dr. Marc Weinstein, an orthopedic spine surgeon at the Florida Orthopaedic Institute in Tampa, Florida, at the North American Spine Society (NASS) Annual Meeting in Chicago, IL, on September 25, during the Research and Innovation Showcase in the McCormick Place West Lobby of the McCormick Convention Center.
During the NASS annual meeting, Orthofix is also highlighting a variety of new products including the full market launch of OsteoStrand&#x2122; Plus C. A 100% bone-derived graft, OsteoStrand Plus C is comprised of Demineralized Bone Matrix (DBM) fibers and Accell&#x2122; Bone Matrix, a dispersed form of DBM that provides immediate release of growth factors upon implantation and increases the concentration of growth factors in the product, and cancellous chips. Used as a bone graft material in fusion applications, the OsteoStrand Plus C features improved graft packability relative to non-chip containing options – for a denser fill and to ensure minimal graft displacement. Additionally, Orthofix is announcing the launch of the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fm6disc.com%2F&amp;esheet=54125379&amp;newsitemid=20240923211580&amp;lan=en-US&amp;anchor=M6-C&amp;index=3&amp;md5=0f2300dfde3b2d3c8390c084ccf90edc">M6-C</a>&#x2122; Single-Use, Disposable Instrumentation sets, the first FDA-cleared, single-use, disposable instruments designed specifically for cervical disc arthroplasty.

OFIX

Orthofix Unveils New Spinal Fusion Products and Data, Highlighting Innovation at NASS Annual Meeting

Alibaba Group Holding&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) cloud computing services unit tapped&nbsp;Nvidia&nbsp;Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) to boost the&nbsp;autonomous driving&nbsp;experience for Chinese smart vehicle owners like Li Auto Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>),&nbsp;Great Wall Motor Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GWLLY#OTC">GWLLY</a>),&nbsp;Geely Auto&#8217;s&nbsp;ZEEKR Intelligent Technology Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZK#NYSE">ZK</a>)&nbsp;and the EV unit of&nbsp;Xiaomi Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACY#OTC">XIACY</a>).
China is currently grappling with U.S. advanced semiconductor sanctions, which have restricted its access to Nvidia and other chipmakers&#8217; sophisticated artificial intelligence chips.
The U.S. chip companies opposed the U.S. move, citing the importance of China as a key semiconductor market. Alibaba has also voiced how the embargo has affected its AI endeavors.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/09/40923879/chinas-ymtc-makes-strides-in-chip-production-substitutes-asml-lam-research-tech-as-us-sanctions-bite" rel="noreferrer noopener">China&#8217;s YMTC Makes Strides in Chip Production; Substitutes ASML, Lam Research Tech As US Sanctions Bite: Report</a>
Alibaba Cloud showcased a large multimodal model (LMM) solution for automotive applications that it co-developed with its intelligent cockpit solution provider Banma Network Technology and Nvidia at the&nbsp;Apsara Conference, SCMP <a target="_blank" href="https://www.scmp.com/tech/big-tech/article/3279428/alibaba-nvidia-collaborate-advanced-autonomous-driving-solution-computing-services" rel="noreferrer noopener">reports</a>.
Alibaba Cloud integrated Qwen&#8217;s portfolio of proprietary large language models (LLMs) with Nvidia&#8217;s Drive AGX Orin platform for autonomous vehicles. The new LMM solution will enable in-car voice assistants to offer recommendations, and execute voice commands SCMP cites Alibaba Cloud.
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23042244/newplot-17.png" alt="" class="wp-image-560553" style="width:920px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23042244/newplot-17.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23042244/newplot-17-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Nvidia and Alibaba Cloud look to Qwen LLMs to Nvidia&#8217;s Drive Thor, a centralized car computing platform.
Last week, Alibaba kicked off its <a target="_blank" href="https://www.benzinga.com/government/24/09/40936014/whats-going-on-with-chinese-tech-stocks-like-alibaba-pdd-on-thursday" rel="noreferrer noopener">Aspara Conference 2024</a>, showcasing 100 open-source AI models catering to applications and sectors ranging from automobiles to gaming and science research.
Chinese e-commerce juggernaut Alibaba Group Holding&#8217;s stock has risen over 1% in the last 12 months as the weak domestic economy and geopolitical tensions bite.
Investors can gain exposure to the stock through the Invesco Golden Dragon China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGJ#NASDAQ">PGJ</a>) and the Trust for Professional Managers ActivePassive International Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APIE#NYSE">APIE</a>).
Price Actions: BABA stock is up 0.85% at $89.04 premarket at last check Monday.
Also Read:
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<li><a href="https://www.benzinga.com/news/24/09/40918150/alibaba-strikes-5-year-cloud-deal-with-indonesias-goto-delays-stake-divestment" target="_blank" rel="noreferrer noopener">Alibaba Strikes 5-Year Cloud Deal with Indonesia&#8217;s GoTo, Delays Stake Divestment</a></li>
</ul>
Photo by Fooksou Lamimo via Wikimedia Commons

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XIACY

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RBC Capital analyst Gregory Renza initiates coverage on CG Oncology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGON#NASDAQ">CGON</a>) with a Outperform rating and announces Price Target of $66.

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Initiation

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CGON

RBC Capital Initiates Coverage On CG Oncology with Outperform Rating, Announces Price Target of $66

<a href="https://www.globenewswire.com/Tracker?data=fTnauvHXrBinpqMkcNrU2jXyFxKpy_arXJzy_b5ASWO6l7AzfHZmmBhfNJU82qOIF0IRqYDITjpbTjTmYaz8lg==">uniQure</a> N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QURE#NASDAQ">QURE</a>), a leading gene therapy company advancing transformative therapies for patients with severe medical needs, today announced that the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation to AMT-191, uniQure's investigational gene therapy for the treatment of Fabry disease, a rare, inherited genetic disease. In August 2024, uniQure announced the dosing of the first patient in its U.S., multi-center, open-label Phase I/IIa trial of AMT-191.
"This important designation highlights the need for new gene therapies like AMT-191 for patients with Fabry disease with the potential of delivering meaningful benefit given the suboptimal effectiveness of current chronic treatments," stated <a href="https://www.globenewswire.com/Tracker?data=XJHujD0zFsqCKj2AQYLx5YZE0M2jd1UjijpyNswg3uU3SriFCvwWI96vkEi8AA3le2sz_K36hMQhw9mjNc65v089QNwHSlUPjRhS5ybbM0ZoWv13dGsruJHJU5iG2D1r51IROOb0I1SREI2dhF2Cck4rSdmcC2GyFO4ZLtacqF9PhX4xHMVg625XkJYrftYl">Walid Abi-Saab, M.D., chief medical officer of uniQure</a>. "This designation supports our Phase I/IIa clinical trial and we look forward to rapidly generating clinical proof-of-concept data and providing initial data in 2025."
In patients with Fabry disease, a pathogenic variant in the galactosidase alpha (GLA) gene leads to α-galactosidase A (aGAL-A) enzyme deficiency, which in turn results in a progressive accumulation of lipids in multiple cell types, including kidney and heart cells, eventually resulting in a multi-system disorder. AMT-191 is a one-time intravenously administered investigational AAV5-based gene therapy that uses a proprietary, highly potent promoter to deliver a GLA transgene designed to target the liver to produce GLA protein.
The Phase I/IIa clinical trial of AMT-191 will be conducted in the United States. The multicenter, open-label trial consists of two cohorts with up to six adult male patients each: a low-dose cohort of 6x1013 gc/kg and a high-dose cohort of 3x1014 gc/kg delivered through a one-time intravenous infusion. Patients will continue to receive their regular enzyme replacement therapy until the criteria for withdrawal is met and will be followed for a period of 24 months. The trial will explore the safety, tolerability, and early signs of efficacy by measuring the expression of lysosomal enzyme aGLA-A. Additional details are available on <a href="https://www.globenewswire.com/Tracker?data=7KolP2h89egUHI8jH_Zo5bdDQZFzZM_38LjWTPDf3Kdw9gSQKRHs9DeKDUPU-daOSt9uPtk10WEjZA6W4qStkajilCQxvaD3HJzRrulXR-o=">www.clinicaltrials.gov</a> (NCT06270316).
The FDA's Orphan Drug Designation provides a special status for investigational drugs being developed for rare diseases considered to affect only up to 200,000 people in the United States. Orphan drug status provides certain incentives, including tax credits, grants and waiver of certain administrative fees for clinical trials as well as seven years of market exclusivity in the United States following drug approval.

QURE

FDA Grants Orphan Drug Status to uniQure's AMT-191, Aiming to Treat Fabry Disease

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ORGS

Orgenesis Approves A 1-for-10 Reverse Stock Split Effective At 5:00 Pm Eastern Time On September 24

MIND Technology, Inc. ("MIND" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIND#NASDAQ">MIND</a>) announced today that its Seamap unit has received an order for a GunLink source controller amounting to approximately $5.1 million.&nbsp; Subsequent to July 31, 2024, the Company has received orders totaling approximately $7.9 million.
Mark Welker, Vice President of MIND and Seamap Managing Director, stated, "We are seeing strong demand for our GunLink source controllers. These most recent orders indicate the continuing demand across our family of source controller products. We expect to deliver a portion of these orders in this fiscal year; however, the majority will be delivered in our next fiscal year.&nbsp; In addition to the orders that we have in hand, we are pursuing a number of significant opportunities that we expect to bring to fruition in the coming weeks and months. We think our continuing backlog and pipeline of business bodes well for the balance of this fiscal year and next year as well."

MIND

MIND Technology's Seamap Unit Secures $5.1M GunLink Order, Expands Total to $7.9M

SKYE

Skye Bioscience Comments Regarding A Recent Announcement By Novo Nordisk On Phase 2a Topline Data With Monlunabant And, Reiterates Confidence In Its Nimacimab Clinical Development Plan, Says 16-week Top-line Weight Loss Data Validates Mechanism Of Action Targeting Peripheral CB1 Receptors

Federal Reserve

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Invivyd, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IVVD#NASDAQ">IVVD</a>), a biopharmaceutical company devoted to delivering protection from serious viral infectious diseases, today provided detailed virology data supporting previously communicated neutralization activity results, along with a genetic and structural analysis of past and present SARS-CoV-2 variant spike proteins, including the established molecular target of pemivibart.
As part of Invivyd's ongoing monitoring of antiviral activity, Invivyd contracts with LabCorp's Monogram Biosciences lab to provide independent, robust virology assessments in a consistent lineal chain that allows for consideration of potential changing pemivibart potency as SARS-CoV-2 evolves. Pemivibart potency against contemporary viruses KP.3.1.1 and LB.1 remains in-line with the totality of predominant variants dating back to 2022, including isolates identified during the conduct of the CANOPY Phase 3 clinical trial from late 2023 to early 2024. Data Table 1, below, provides relevant comparative values drawn from the PEMGARDA Healthcare Providers Fact Sheet.
"Quantitative neutralization assays exhibit marked intrinsic variability. Since discovery, pemivibart has exhibited impressively stable neutralization results across a wide range of SARS-CoV-2 variants, including and through contemporary variants tested," said Robert Allen, Ph.D., Chief Scientific Officer of Invivyd. "The values we observe thus far generally fall within the expected variability of the assay systems we employ."&nbsp;&nbsp;
Invivyd also provided an update to ongoing structural analysis showing no meaningful mutational change in the pemivibart binding site since the Omicron shift late in 2021. These data are presented in Figure 1 below. The pemivibart binding site is defined as a region of amino acid residues on the spike protein within 5 angstroms (5 Å) of the interaction between pemivibart and spike protein in a crystal structure and consists of 19 key amino acids. Invivyd's ongoing genetic and structural analyses of these residues provide the underlying biological rationale for the company's ongoing expectation for neutralization activity of pemivibart in the face of constant and convergent mutation in the SARS-CoV-2 spike protein. Analysis to date of all 19 amino acids presented below shows de minimis mutational change with ongoing stability to the binding site since the Omicron shift.
"To stay ahead of the curve, it is necessary to integrate data across multiple sources, including clinical and wastewater surveillance, as well as functional genomics. Invivyd's work over the last few years has achieved exactly that," said Kristian Andersen, Ph.D., a professor in the Department of Immunology and Microbiology at Scripps Research and member of Invivyd's scientific advisory board. "Continued surveillance of SARS-CoV-2 evolution is critically important to ensure that we can effectively counter the threat posed by the virus."

IVVD

Invivyd Shares New Data on Pemivibart's Neutralization of COVID Variants, Details Virus Evolution

U.S. index futures are modestly higher at the start of a new week as the rate cut euphoria fades and traders look ahead to the next key catalysts. The tech space could get a lift from <a href="https://www.benzinga.com/news/24/09/40975507/intels-stock-gains-in-pre-market-trading-following-reports-of-qualcomms-and-apollos-investment-offer">a potential lifeline for struggling Intel Corp.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and traders may also look ahead to Micron Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) earnings report due later this week. FedEx Corp.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) annual shareholder meeting and conference presentations by companies could also be on traders&#8217; radar.
A few Fed speeches and private sector activity data due on Monday will also be of interest to the market, which has had an atypically strong September. China followed up with more cuts on Monday as the country strives to bring the struggling economy back on track.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.24%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.15%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.06%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.32%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Monday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.15% to $569.09 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) climbed 0.27% to $483.06, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Week:
U.S. stocks recorded gains for the second straight week as the Fed&#8217;s 50 basis-point cut set the market on fire, although a session after the announcement. After a mixed start to the week, positive retail sales generated buying interest in the market on Tuesday. Sentiment soured on Wednesday despite the initial positive reaction to the rate cut and the major indices closed lower. 
Traders reacted with a lag to the rate cut, sending averages sharply higher on Thursday. The S&amp;P 500 Index and the Dow Jones Industrial Average scaled record highs in the session. Caution returned on Friday as the market closed the triple-witching session on a mixed note. The Dow built on its gains on Friday and ended at a new high.
&#8220;This might be a September rally to remember on Wall Street, as history is not on the side of September delivering many market rallies,&#8221; said fund manager Louis Navellier.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Weekly Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+1.50%</td>
<td>17,948.32</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+1.36%</td>
<td>5,702.55</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+1.62%</td>
<td>42,063.36</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+2.08%</td>
<td>2,227.89</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The atypical September rally points to more gains ahead before the year ends, says Carson Group&#8217;s Chief Market Strategist Ryan Detrick. A new high for the S&amp;P 500 Index in September has meant an even better fourth quarter in the past, he said. The market has risen 19 out of 21 times and the average gain is nearly 5%, he said. If the new high was made in September, which also happens to be an election year, the fourth quarter is higher 100% of the time with an average gain of 6%.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">When the S&amp;P 500 makes a new high in September (like &#39;24) it appears Q4 does even better. In fact, higher 19 out of 21 times (90.4%) and up nearly 5% on avg. New highs in Sept of election year? Q4 higher 6 out of 6 and up nearly 6% on avg.
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1837903370494820836?ref_src=twsrc%5Etfw">September 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The S&amp;P 500 Index, which closed Friday&#8217;s session, just shy of an all-time high, is now above year-end price predictions of 70% of Wall Street analysts. This has rendered S&amp;P valuation slightly higher than the average number for the past five and past 10 years, FactSet data showed.
JPMorgan Global Investment Strategist&nbsp;Sarah Stillpass&nbsp;said in a report the September rate cut could bode well for equities. Since 1980, five of the 10 best years for the S&amp;P 500 happened when the Fed was cutting rates without a recession, she said. She also noted that the Fed has cut rates 12 times when the S&amp;P 500 was within 1% of its all-time high such as the current year. The market was higher one year later all 12 times, with a median return of 15%, she added.
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Upcoming Economic Data:
A slew of Fed speeches and the core personal consumption expenditure index, which is part of the personal income and spending report, are the key data the market will likely look forward to in the unfolding week. Traders may also keep a close eye on the weekly jobless claims data, flash private sector activity readings from S&amp;P Global, a consumer confidence reading, the August durables goods orders data and a couple of housing market readings.
On Monday, Atlanta Fed President Raphael Bostic is scheduled to speak at 8 a.m. EDT, followed by Chicago Fed President Austan Goolsbee at 10:15 a.m. EDT and Minneapolis Fed President Neel Kashkari&nbsp;at 1 p.m. EDT.
S&amp;P Global will release its flash manufacturing and service sector purchasing managers&#8217; indices for September at 9:45 a.m. EDT. Economists, on average, expect the manufacturing purchasing managers&#8217; index to rise from 47.9 in August to 48.4 in September, suggesting the sector continued to contract. The service sector PMI is widely expected to hold steady at 55.4 compared to August&#8217;s 55.7.
The Treasury will auction three- and six-month notes at 11:30 a.m. EDT.
Stocks In Focus:
<ul>
<li>Intel rose about 3% <a href="https://www.benzinga.com/premarket">in premarket trading</a> amid reports that Apollo Global Management seeks to invest $5 billion in the chipmaker in return for an equity stake in the company. Incidentally, Qualcomm, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) is rumored to be interested in buying Intel.</li>
<li>Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rally is sending crypto-linked stocks higher on Monday.</li>
<li>Palantir Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) fell over 1.60% following a negative analyst action. The company will be added to the S&amp;P 500 Index, along with Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) and Erie Indemnity Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIE#NASDAQ">ERIE</a>).</li>
<li>AAR Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIR#NYSE">AIR</a>) is due to <a href="https://www.benzinga.com/calendars/earnings">announce its quarterly results after the market closes.</a></li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil and gold futures are modestly higher, with the latter trading near record territory. Bitcoin has gone past the $63.5K level. The 10-year Treasury note yield rose 1.1 points to 3.739%.
The Asian markets closed on a lackluster note, although the Japanese market remained closed for a public holiday. The People&#8217;s Bank of China announced a cut to its 14-day reverse repurchase rate, following up with the downward adjustments that began in July. Chinese central bank governor Pan Gongsheng will hold a press conference Tuesday on financial support for economic development, alongside two other officials, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-23/china-announces-another-rate-cut-as-growth-slowdown-worsens">reported.</a>
European stocks also showed tentativeness as domestic traders digested weak private sector activity data from the region.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40974885/s-p-500-outpaces-wall-street-projections-as-year-end-nears-will-the-rally-hold">S&amp;P 500 Outpaces Wall Street Projections As Year-End Nears: Will The Rally Hold?</a></li>
</ul>
Photo via Shutterstock

Earnings

Equities

Futures

Previews

Economics

$BTC

DELL

ERIE

INTC

PLTR

QCOM

Wall Street Eyes Modestly Positive Start As Atypical September Rally Generates Positive Sentiment, China Cuts Rate: Intel, Palantir, Bitcoin Make Huge Moves

<ul>
<li>Riot has agreed to withdraw its June 24, 2024 requisition, as amended, and to accept customary standstill provisions through the Bitfarms 2026 Annual Meeting, with certain exceptions.</li>
<li>The Company has provided Riot with certain rights (subject to certain exceptions) to purchase shares of the Company provided Riot holds&nbsp;15%&nbsp;or more of the outstanding common shares of the Company.</li>
</ul>

Management

BITF

RIOT

Bitfarms, Riot Platforms Enter Settlement Agreement In Advance Of Special Meeting; Andrés Finkielsztain Has Stepped Down From Bitfarms' Board, Amy Freedman To Join Board

ALKS

Alkermes Announced Plans To Present Clinical Data From Its Phase 1B Study Of ALKS 2680 In Patients With Narcolepsy Type 2 And Idiopathic Hypersomnia At The European Sleep Research Society Congress, Sleep Europe 2024

MoffettNathanson analyst Michael Nathanson initiates coverage on Trade Desk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) with a Neutral rating and announces Price Target of $100.

MoffettNathanson Initiates Coverage On Trade Desk with Neutral Rating, Announces Price Target of $100

<a href="https://www.globenewswire.com/Tracker?data=r4RuL-g8BiKVZqLRnMl8EGgAMp3MEvcuP1lhTYpiuoJgsZ1jahk_eeysIWLnQ1bAlIACdbq5BXPKTE0CscTH9fs6bHnXyXzwYWhIPkSFsL0=">Black Diamond Therapeutics, Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BDTX#NASDAQ">BDTX</a>), a clinical-stage oncology company developing MasterKey therapies that target families of oncogenic mutations in patients with cancer, today reported initial Phase 2 data demonstrating encouraging clinical responses and durability of BDTX-1535 in patients with relapsed/refractory epidermal growth factor receptor (EGFR)-mutant (EGFRm) non-small cell lung cancer (NSCLC).
"Patients often become resistant to osimertinib with the emergence of on-target resistance EGFR mutations," said Sergey Yurasov, M.D., Chief Medical Officer of Black Diamond Therapeutics. "Our preliminary Phase 2 data demonstrate the potential of BDTX-1535 to deliver durable responses for these patients."
"Patients with recurrent EGFRm NSCLC have few treatment options, with chemotherapy delivering limited benefit and significant toxicity, and initial Phase 2 data with BDTX-1535 look quite promising," said Danny Nguyen, M.D., <a href="https://www.globenewswire.com/Tracker?data=vlr3UZ7jREPq-nVuV_0_0C88uBRItoG_u2Pds2FLZhl6OdG7j4DTPUFysQY2y_LIjwyzqAqfOfpni53hE75snJRWUiN0k0RirbHBhXGxPKYSET-VNVVUwbCm2cnWyEzenhj0xWJvWFDh1oHU2wzxnXLBK7T4WBCokjmhe7dQL7lQDcWhMG63hpBMKrSRhrsiyEiYvQrw6wRSj8xyaeufaSI2us8FlQDhdtCYWaPgkus=">Assistant Clinical Professor, Department of Medical Oncology and Therapeutics Research at City of Hope</a>. "There is a significant unmet medical need for an effective and well-tolerated oral therapy for patients who progress on osimertinib, as well as newly diagnosed patients with non-classical mutations."
Phase 2 preliminary data overview:
The phase 2 trial began in August of 2023, and enrolled relapsed/refractory patients with non-classical EGFR mutations (NCMs) (Cohort 1) and those with C797S resistance mutations (Cohort 2). Safety assessment and dose selection were based upon the first 40 patients randomized to receive BDTX-1535 once daily at either 100 mg or 200 mg across both Cohorts. Preliminary response rate and durability were assessed in 27 patients at 200 mg with an August 17, 2024, data cutoff, including 22 response-evaluable patients who met protocol eligibility criteria.
Key takeaways:
<ul>
<li>200 mg daily selected for pivotal clinical development. Dose selection was based primarily on pharmacokinetics, safety and tolerability data from 20 patients at 100 mg, and 20 patients at 200 mg.</li>
<li>Favorable tolerability profile at 200 mg, consistent with prior BDTX-1535 clinical data. The majority of adverse events were mild or moderate, and no new safety signals were observed. The most common on-target treatment-related adverse events were rash (70%) and diarrhea (35%). There were 2 cases of grade 3 rash, and no reported cases of grade 4 rash or grade 3/4 diarrhea.</li>
<li>Preliminary objective response rate (ORR) of 42% achieved in 19 patients. For the 22 response-evaluable patients, the preliminary ORR was 36%. Nineteen of these 22 patients expressed known osimertinib resistance mutations: either C797S or P-loop alpha-C helix compressing (PACC, a major subset of NCMs). Of these 19 patients, 8 achieved a response (42%): 5 with a confirmed partial response (PR), including 1 patient who converted from a PR to an unconfirmed complete response (CR) at 8 months (and awaits confirmatory scan); and 3 with an unconfirmed PR at first scan and awaiting a confirmatory scan. An additional 9 patients experienced stable disease.</li>
<li>Encouraging durability observed, with duration of response (DOR) of approximately 8 months or more for first 3 patients with PR; 14 of 19 patients remain on therapy. Mean follow-up time is 4.7 months.</li>
</ul>
"We are pleased to see significant Phase 2 clinical activity and tolerability that are consistent with our Phase 1 results," said Mark Velleca, M.D., Ph.D., Chief Executive Officer of Black Diamond Therapeutics. "We believe that the activity observed in the recurrent setting can translate to robust clinical benefit in the first-line setting, and we look forward to sharing data from our trial in newly diagnosed patients in Q1 2025."
Black Diamond continues to enroll patients in the second- and third-line cohorts, as well as in the first-line setting for patients with non-classical EGFR mutations. In Q1 2025, the Company expects to disclose initial results from the first-line cohort and to outline potential registrational paths in the recurrent setting based on FDA feedback.

BDTX

Black Diamond Reports Phase 2 Results for BDTX-1535 in Lung Cancer, Targets FDA Approval Path

Lead investors, Delta Air Lines, Inc.,&nbsp;CK&nbsp;Wheels&nbsp;LLC, and Cox&nbsp;Investment Holdings,&nbsp;LLC, agreed to extend the lock-up restriction with respect to all their shares of common stock&nbsp;issued under the Investment and Investor Rights Agreement, for an additional year, until September&nbsp;20,&nbsp;2025.
In addition, Kore Capital LLC and funds managed by Whitebox&nbsp;Advisors LLC, agreed to extend the lock-up restriction with respect to&nbsp;72.5%&nbsp;of their shares until September&nbsp;20,&nbsp;2025.

Wheels Up Says Approximately 97.2% Of Lead Investor Shares Will Remain Subject To The Lock-up Restriction Until September 20, 2025

AECOM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACM#NYSE">ACM</a>), the world's trusted infrastructure consulting firm, today announced its selection by the City of Austin as the prime consultant for the expansion of the Walnut Creek Wastewater Treatment Plant (WWTP) in Austin, Texas. The project aims to improve the aging structure's operational and environmental features by increasing the plant's capacity from 75 million gallons per day (MGD) to 100 MGD. As the population of Austin grows, the upgrades will bolster the resiliency of the community's wastewater infrastructure while safeguarding its surrounding ecosystem.
"As our industry's leading Water consulting firm, we look forward to continuing our long-standing partnership with the City of Austin to ensure the Walnut Creek Expansion delivers state-of-the-art treatment capabilities to the local community," said Beverley Stinson, chief executive of AECOM's global Water business. "Our teams have established themselves as pioneers in the global push to advance highly efficient and cost effective nutrient removal, and will leverage this extensive expertise to enhance the plant and improve the effluent water quality to protect the environment, while meeting existing and future community demands."
The AECOM team's scope of work for the project includes process, mechanical, civil, electrical and structural engineering services to modernize and upgrade the existing infrastructure, while incorporating advanced operational and environmental features. The expansion will involve replacing aging equipment, constructing a new 25 MGD treatment train, and building a new 120-inch outfall line and structure. The project will also provide wet weather treatment with new 100 MGD cloth filters and build a flood wall to protect against 100-year floods in accordance with the National Weather Service's historic <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.austintexas.gov%2Fdepartment%2Fflood-risk-and-atlas-14&amp;esheet=54125161&amp;newsitemid=20240923628017&amp;lan=en-US&amp;anchor=Atlas+14&amp;index=1&amp;md5=f42d51c75c9b61534bc111d8082f631f">Atlas 14</a> flood risk study.
"AECOM has a longstanding partnership with the City of Austin, having designed substantial portions of the City's major water and wastewater treatment plants," said Matt Crane, chief executive of AECOM's U.S. West region. "Our expertise in complex treatment design will support an exceptionally resilient, sustainable facility, aligning with our Sustainable Legacies strategy to make a lasting positive impact through every project we undertake."
Originally built in 1977 with an 18 million gallon per day capacity, the Walnut Creek Wastewater Treatment Plant has since been expanded three times in 1987, 1990, and 2005 to reach its current capacity of 75 million gallons per day. The facility is expected to remain operational throughout the work.

AECOM to Lead Major Expansion of Austin's Walnut Creek Wastewater Plant, Boosting Capacity to 100 MGD

Tempur Sealy International, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPX#NYSE">TPX</a>, ", Company", or ", Tempur Sealy", )))) today provided an update with respect to the Company's agreement to acquire Mattress Firm Group Inc. ("Mattress Firm"), which is currently being challenged in federal court by the Federal Trade Commission ("FTC").
The litigation process continues to progress, with hearings currently scheduled to begin on November 12, 2024, and expected to last two weeks. The Company continues to believe that a successful litigation process can be completed in the coming months, which would allow the transaction to close in late 2024 or early 2025, consistent with previous expectations.
In conjunction with the planned Mattress Firm acquisition, Tempur Sealy has entered into a purchase agreement with MW SO Holdings Company, LLC ("Mattress Warehouse"), a leading independently owned bedding specialty retailer, for the sale of 73 Mattress Firm retail locations and the Company's Sleep Outfitters subsidiary, which includes 103 specialty mattress retail locations and seven distribution centers.
Mattress Warehouse is a multi-branded retailer offering a full array of mattresses at various price points. Tempur Sealy will continue to supply its Tempur-Pedic, Stearns &amp; Foster, and Sealy products to the divested Mattress Firm and Sleep Outfitters stores. The divestiture is subject to the closing of Tempur Sealy's acquisition of Mattress Firm and other customary closing conditions. It is expected to close approximately one quarter after the closing of the Mattress Firm transaction.
Company Chairman and CEO Scott Thompson commented, "As part of our engagement with the FTC on the proposed acquisition of Mattress Firm, we conducted a divestiture process, which led to an agreement with Mattress Warehouse, a company with extensive mattress retail experience, a strong capital base, and a capable leadership team."

Tempur Sealy Moves Forward with Mattress Firm Acquisition, FTC Court Hearings Set for November

Tempur Sealy intends to use the proceeds from the Term Loan B, together with cash available and proceeds from other debt, to fund the cash consideration for the previously announced acquisition of Mattress Firm Group Inc.. Tempur Sealy intends to draw on the Term Loan B concurrent with the closing of the Mattress Firm acquisition.

Tempur Sealy Launches Proposed Senior Secured Term Loan B Facility In An Aggregate Principal Amount Of Up To $1.6B

Dingdong (Cayman) Limited (DDL) Q2 2024 Earnings Call Transcript

The e-commerce sector looks promising due to the growth of mobile commerce and social media, along with advances in the internet, personalized ads, and improved user experiences. Therefore, adding strong e-commerce stocks like eBay (EBAY), Amazon (AMZN), and Dingdong (DDL) could be a smart move to benefit from the online retail boom. Keep reading... The e-commerce industry is experiencing rapid growth, driven by the surge in online shopping, mobile commerce expansion, and emerging markets in developing countries. Moreover, trends such as social commerce and AI-driven personalization are enhancing customer engagement and online retail sales, presenting promising investment opportunities.
To capitalize on this online retail boom, investors might consider buying strong e-commerce stocks such as eBay Inc. (<a href="https://stocknews.com/stock/EBAY/">EBAY</a>), Amazon.com, Inc. (<a href="https://stocknews.com/stock/AMZN/">AMZN</a>), and Dingdong (Cayman) Limited (<a href="https://stocknews.com/stock/DDL/">DDL</a>) now.
E-commerce in 2024 shows promise with advancements like Generative AI and zero-click search, which enhance the user experience. Personalized advertising and retail media networks are gaining momentum, while the rise of second-hand marketplaces, high-quality products, and seamless payment options further boost the sector's appeal. Hence, investing now can help capitalize on these transformative trends.
While overall retail sales growth has slowed slightly, sectors like clothing, accessories, and health products are thriving. Despite high interest rates and economic caution, rising online sales are driving growth. U.S. e-commerce revenue is projected to increase significantly by <a href="https://www.statista.com/statistics/272391/us-retail-e-commerce-sales-forecast/">$657.8 billion</a>, or 53.79%, from 2024 to 2029. Moreover, China's online sales of physical goods also rose by <a href="https://www.cnbc.com/2024/08/15/china-july-data-retail-sales-industrial-production.html">14% in July</a>.
Notably, U.S. online retail sales are set to hit <a href="https://www.fticonsulting.com/insights/reports/2024-online-retail-report#:~:text=We%20project%20U.S.%20online%20retail%20sales%20will%20hit%20%241.2%20trillion%20in%202024.&amp;text=Estimated%20increase%20in%20U.S.%20online,%2C%20or%209.8%25%20over%202023.&amp;text=Expected%20U.S.%20e%2Dcommerce%20market,at%20the%20end%20of%202023.">$1.2 trillion this year</a>, marking a $108 billion (9.8%) increase from last year. Furthermore, the rise of high-speed internet has transformed global e-commerce, with innovations such as chatbots, headless commerce, AR shopping, and blockchain technology driving significant growth in the sector.
Considering these conducive trends, let's examine the fundamentals of the three above-mentioned <a href="https://stocknews.com/category/internet/">Internet</a> stocks, starting with the third choice.
Stock #3: eBay Inc. (<a href="https://stocknews.com/stock/EBAY/">EBAY</a>)
EBAY operates marketplace platforms that connect buyers and sellers in the United States and internationally. The company's marketplace platforms include eBay.com and the eBay suite of mobile apps. They enable users to list, buy, and sell various products.
On July 10, 2024, EBAY announced a new revenue-based financing product, Business Cash Advance, in partnership with Liberis. This service provides eligible U.S. eBay sellers with up to $1 million in working capital within 24 hours, featuring flexible payments and a seamless online application process.
On June 13, 2024, EBAY announced the addition of Venmo as a payment option for U.S. buyers, aiming to enhance flexibility and appeal to younger, mobile-first consumers. This integration allows users to pay with their Venmo balance or linked financial accounts during checkout on ebay.com.
In terms of the trailing-12-month <a href="https://www.investopedia.com/terms/e/ebit.asp">EBIT</a> margin, EBAY's 21.45% is 174.1% higher than the 7.83% industry average. Its 4.35% trailing-12-month Capex / Sales is 45% higher than the 3% industry average. Similarly, the stock's 18.41% trailing-12-month levered FCF margin is 231.3% higher than the 5.56% industry average.
During the fiscal second quarter that ended June 30, 2024, EBAY's net revenues increased 1.3% year-over-year to $2.57 billion. Its gross profit rose marginally year-over-year to $1.84 billion. Also, its non-GAAP net income from continuing operations stood at $602 million and 1.18 per share, up 8.5% and 14.6% over the prior-year quarter, respectively.
Analysts expect EBAY's EPS for the quarter ending September 30, 2024, to increase 14.5% year-over-year to $1.18. Its revenue for the same quarter is expected to grow 1.7% year-over-year to $2.54 billion. It surpassed the Street EPS and revenue estimates in each of the trailing four quarters. Over the past nine months, the stock has gained 37.4% to close the last trading session at $55.83.
EBAY's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its strong fundamentals. It has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
EBAY has an A grade for Quality and a B for Momentum. It is ranked #16 out of 52 stocks in the B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry. Beyond what we have stated above, we also have given EBAY grades for Growth, Value, Stability, and Sentiment. Get all the EBAY's ratings <a href="https://stocknews.com/stock/EBAY/">here</a>.
Stock #2: Amazon.com, Inc. (<a href="https://stocknews.com/stock/AMZN/">AMZN</a>)
AMZN sells consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale and products provided by third-party sellers.
On July 11, 2024, AMZN's AWS and Workday announced an expanded partnership to develop generative AI capabilities, enhance custom application development, and accelerate joint go-to-market efforts. This collaboration aims to boost productivity, improve decision-making, and drive cloud transformation for organizations.
On July 25, 2024, AMZN and GE HealthCare announced a strategic collaboration to develop generative AI models aimed at enhancing medical diagnostics and patient care. GE HealthCare will use AWS's cloud and AI services to accelerate healthcare innovation and improve clinical workflows.
In terms of the trailing-12-month net income margin, AMZN's 7.35% is 63.2% higher than the 4.50% industry average. Likewise, its 9.86% trailing-12-month Capex / Sales is 229% higher than the 3% industry average. Moreover, the stock's 1.17x trailing-12-month asset turnover ratio is 18% higher than the 0.99x industry average.
AMZN's total net sales during the fiscal second quarter that ended June 30, 2024, increased 10.1% year-over-year to $147.98 billion. The company's operating income grew 91% from the year-ago value to $14.67 billion. In addition, the company's net income and EPS came in at $13.49 billion and $1.26, up 99.8% and 93.8% over the prior-year quarter, respectively.
Street expects AMZN's EPS and revenue for the quarter ending September 30, 2024, to increase 20.5% and 9.9% year-over-year to $1.13 and $157.27 billion, respectively. It surpassed the Street EPS estimates in each of the trailing four quarters. Over the past year, the stock has gained 29% to close the last trading session at $177.59.
It's no surprise that AMZN has an overall rating of B, which translates to a Buy in our proprietary rating system.
AMZN has a B grade for Momentum, Sentiment, and Quality. Within the same industry, it is ranked #12. To see AMZN's ratings for Growth, Value, and Stability, <a href="https://stocknews.com/stock/AMZN/">click here</a>.
Stock #1: Dingdong (Cayman) Limited (<a href="https://stocknews.com/stock/DDL/">DDL</a>)
Headquartered in Shanghai, China, DDL operates as an e-commerce company. The company offers fresh groceries, including vegetables, meat and eggs, fruits, and seafood; prepared food; and other food products such as baked goods, dairy, seasonings, beverages, instant food, oil, and snacks.
In terms of its trailing-12-month Return on Common Equity, DDL's 14.73% is 38% higher than the 10.67% industry average. Also, the stock's 2.87x trailing-12-month asset turnover ratio is 239.7% higher than the 0.85x industry average.
In the fiscal second quarter, which ended June 30, 2024, DDL's total revenues increased 15.7% year-over-year to RMB5.60 billion ($782.78 million). Its non-GAAP income from operations stood at RMB89.60 million ($12.52 million), compared to a non-GAAP loss from operations of RMB5.42 million ($757.62 thousand).
Moreover, its non-GAAP net income attributable to ordinary shareholders and non-GAAP net income per Class A and Class B ordinary share came in at RMB100.84 million ($14.10 million) and RMB0.31, up considerably each over the prior-year quarter, respectively.
For the quarter ending September 30, 2024, DDL's revenue is expected to increase 21.5% year-over-year to $862.10 million. Its EPS for fiscal 2024 is expected to rise 896.4% year-over-year to $0.15. It surpassed the consensus EPS estimates in three of the trailing four quarters. Over the past six months, DDL's stock has gained 67.8% to close the last trading session at $2.03.
DDL's bright prospects are reflected in its POWR Ratings. It has an overall rating of A, equating to a Strong Buy in our proprietary rating system.
It has an A grade for Growth and a B for Value. DDL is ranked #2 in the Internet industry. To access the additional grades of DDL for Momentum, Stability, Sentiment, and Quality, <a href="https://stocknews.com/stock/DDL/">click here</a>.
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<hr />
AMZN shares were trading at $177.39 per share on Friday afternoon, down $0.20 (-0.11%). Year-to-date, AMZN has gained 16.75%, versus a 17.33% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/amzn-ebay-ddl-3-e-commerce-picks-to-ride-the-online-retail-boom/>3 E-Commerce Picks to Ride the Online Retail Boom</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 E-Commerce Picks to Ride the Online Retail Boom

Pinterest (PINS) delivered robust second-quarter results supported by strong revenue growth and continuous innovations. While its long-term outlook appears positive with increasing worldwide internet usage, it faces slow quarterly active user growth compared to the prior quarters. So, let's determine whether Pinterest is a buy amid social media landscape shifts. Read more to find out... Pinterest, Inc. (<a href="https://stocknews.com/stock/PINS/">PINS</a>), an international visual search and discovery platform provider, performed well in the second quarter and reported robust financial results. The company reported a record quarterly revenue of $ 853.68 million, indicating an increase of 20.6% from the prior-year quarter. However, its global quarterly active users graphs appears to be moving slow.
Pinterest has emerged as a go-to destination for inspiration. People from all generations worldwide engage on the platform to explore their interests and share their inspiration with others. Further, its drive for innovation like introducing new ways to share Pinterest boards, keeps the users interested.
PINS recently introduced new AI tools for creativity and performance. Pinterest Ad Labs is an innovation program where select brands can test prototypes of new creative and ad tools leveraging generative AI features. With this, Pinterest aims to encourage experimentation and to learn from advertiser feedback. It offers personalized background generation and collages for advertisers.
Further, with the increasing worldwide internet usage penetration among the general population, the internet industry is growing. There were <a href="https://www.statista.com/statistics/617136/digital-population-worldwide/">5.45 billion internet users worldwide as of July 2024</a>, amounting to 67.1% of the global population. Further, of this overall total, 5.17 billion, or 63.7% of people, were social media users of the world's population.
During the quarter, PINS partnered with Integral Ad Science (<a href="https://stocknews.com/stock/IAS/">IAS</a>), a leading global media measurement and optimization platform, to provide global advertisers higher transparency into campaigns across PINS' in-app feed through IAS' AI-driven Total Media Quality (TMQ) Brand Safety and Suitability product.
Bill Ready, CEO of Pinterest said, "We had another impressive quarter, reporting a 21% increase in revenue and 12% growth in monthly active users globally. Our monetization efforts are paying off. Advertisers are seeing improved performance across key objectives on Pinterest – from brand awareness to conversion – as we continue to roll out AI-powered products and experiences."
He added "As a result, we're gaining share of advertising budgets with some of the world's largest brands. I'm proud of our pace of innovation as we execute against the opportunity ahead."
According to the company's guidance for the third quarter of 2024, PINS expects its revenue to be in the range of $885 million to $900 million, reflecting 16% - 18% growth year-over-year.
Shares of PINS have surged 15% over the past year to close its last trading session at $31.65. However, the stock has plunged 23.5% over the past month.
Let's look at factors that could influence PINS' performance in the upcoming months.
Positive Recent Developments
On June 13, PINS and Integral Ad Science (<a href="https://stocknews.com/stock/IAS/">IAS</a>), a leading global media measurement and optimization platform, entered a partnership to provide global advertisers with greater transparency into campaigns across PINS' in-app feed through IAS' AI-driven Total Media Quality (TMQ) Brand Safety and Suitability product.
The new launch includes features like trusted campaign insights, frame-by-frame analysis, campaign-level measurement, and global coverage. The new TMQ for PINS provides advertisers safeguards across a total of 39 countries in 40 languages. The partnership will expand PINS operations and offer brand safety and greater confidence to confidence via best-in-class technology.
Robust Financials
For the second quarter that ended June 30, 2024, PINS' revenue increased 20.6% year-over-year to $853.68 million, of which its revenue from the US and Canada rose 19.1% year-over-year to $673 million. The company's adjusted <a href="https://www.investopedia.com/terms/e/ebitda.asp">EBITDA</a> grew 68.1% from the year-ago value to $179.91 million.
Furthermore, the company's non-GAAP net income came in at $207.16 million and $0.29 per share, indicating increases of 45.8% and 38.1% from the prior year's quarter, respectively. The company's total assets totaled $3.75 billion as of June 30, 2024, compared to $3.59 billion as of December 31, 2023.
Solid Historical Growth
PINS' revenue has grown at a CAGR of 14.1% over the past three years. The company's net income has increased at a CAGR of 6% over the same timeframe, while its normalized net income has improved at a CAGR of 12%.
Also, the company's tangible book value and total assets have increased at CAGRs of 7.4% and 9.1% over the past three years, respectively. And its levered free cash flow grew 32.2% over the same timeframe.
Favorable Analyst Estimates
Analysts expect PINS' revenue for the third quarter (ending September 2024) to increase 17.4% year-over-year to $895.90 million. The consensus EPS estimate of $0.34 for the same quarter indicates a 22.1% year-over-year improvement. Moreover, PINS has an impressive earnings surprise history, having topped consensus EPS estimates in each of the trailing four quarters.
For the fiscal year ending December 2024, the company's revenue and EPS are expected to grow 19% and 33.9% year-over-year to $3.63 billion and $1.48, respectively. Additionally, Street expects its revenue and EPS for the fiscal year 2025 to increase 16.5% and 21.8% year-over-year to $4.24 billion and $1.78, respectively.
High Profitability
PINS' trailing-12-month gross profit margin of 78.58% is 54.2% higher than the industry average of 50.97%. Its trailing-12-month net income margin of 5.75% is 69.6% higher than the industry average of 3.39%. Similarly, its trailing-12-month levered FCF margin of 23.34% is considerably higher than the industry average of 8.42%.
Furthermore, the stock's trailing-12-month ROCE, ROTC, and ROTA of 6.52%, 4.88%, and 5.12% favorably compared to the industry averages of 3.81%, 3.76%, and 1.33%, respectively.
Elevated Valuation
In terms of forward Price/Sales, PINS is trading at 6x, 378.2% higher than the industry average of 1.25x. Likewise, the stock's forward Price/Book multiple of 6 is 201% higher than the industry average of 1.99. Also, its forward Price/Cash Flow of 22.67x is 189.3% higher than the industry average of 7.84x.
Also, PINS forward non-GAAP P/E of 21.78x is considerably higher than the 13.28x industry average. And its EV/EBITDA of 20.21x is 154.4% higher than the industry average of 7.94x.
POWR Ratings Reflect Uncertainty
PINS' mixed fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, translating to a Neutral in our proprietary system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. PINS has a B grade for Quality, consistent with its higher-than-industry profitability.
However, it has a C for Momentum justified by the stock trading below its 50-day and 200-day moving averages of $38.77 and $36.85, respectively.
PINS is ranked #26 in the 51-stock B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry.
Beyond what I have stated above, we have also given PINS grades for Value, Sentiment, Growth, and Stability. Get access to all the PINS Ratings <a href="https://stocknews.com/stock/PINS/">here</a>.
Bottom Line
PINS reported solid earnings for the second quarter of fiscal 2024. The company's strong industry footing, strategic initiatives, innovative solutions, and solid financial performance position it for bright long-term prospects. However, the company grapples with flat to slow quarterly monthly active user growth.
Given PINS' elevated valuation, waiting for a better entry point in this stock seems prudent.
Stocks to Consider Instead of Pinterest, Inc. (PINS)
Given its near-term uncertain prospects, the odds of PINS outperforming in the weeks and months ahead are compromised. However, there are many industry peers with much more impressive POWR Ratings. So, consider these A (Strong Buy) or B (Buy) stocks from the B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry instead:
Meituan ADR (<a href="Meituan%20ADR">MPNGY</a>), Dingdong (Cayman) Ltd (<a href="https://stocknews.com/stock/DDL/">DDL</a>), and Yelp Inc. (<a href="https://stocknews.com/stock/YELP/">YELP</a>).
For exploring more A and B-rated internet stocks, <a href="https://stocknews.com/category/internet/">click here</a>.
What To Do Next?
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&nbsp;

<hr />
PINS shares were trading at $32.13 per share on Wednesday afternoon, up $0.48 (+1.52%). Year-to-date, PINS has declined -13.26%, versus a 18.21% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/pins-mpngy-ddl-yelp-ias-is-pinterest-a-buy-as-social-media-landscape-shifts/>Is Pinterest a Buy as Social Media Landscape Shifts?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Is Pinterest a Buy as Social Media Landscape Shifts?

With Alphabet (GOOGL) facing growing antitrust challenges, investors question whether the tech giant remains a buy. Discover if GOOGL's financial strength and massive growth in AI and cloud can offset regulatory risks. Read on to learn more... Alphabet Inc. (<a href="https://stocknews.com/stock/GOOGL/">GOOGL</a>) has been a dominant player in the tech industry. However, it faces increased scrutiny from regulators worldwide. Google is set to <a href="https://www.reuters.com/technology/us-antitrust-trial-targets-googles-digital-ad-business-2024-09-04/">face trial next week in a second antitrust case</a>, where the U.S. Department of Justice (DOJ) will challenge the company's methods of monetizing advertising, which prosecutors claim harms news publishers.
This case is part of the Biden administration's broader push to curb the power of Big Tech through antitrust laws. It follows a significant victory for the Justice Department in a separate lawsuit on August 5, when a judge ruled that Google illegally monopolized online search.
Despite these looming challenges, GOOGL's financial strength remains undeniable. The company reported better-than-expected revenue and earnings for the second quarter of 2024. Alphabet reported <a href="https://abc.xyz/assets/19/e4/3dc1d4d6439c81206370167db1bd/2024q2-alphabet-earnings-release.pdf">revenues of $84.74 billion</a>, surpassing analysts' estimate of $84.30 billion. The company's EPS came in at $1.89, compared to the consensus estimate of $1.84.
Its main revenue drivers—Google Search, YouTube, and Google Cloud—remain robust. The company's advertising arm, which is at the center of antitrust scrutiny, still accounts for a significant portion of its revenue, and its dominance in digital ads has positioned Alphabet as a key player in the tech ecosystem.
Additionally, Alphabet is well-diversified with its growing cloud business, artificial intelligence (AI) advancements, and other ventures such as Waymo (autonomous driving) and Verily (health technology).
Shares of GOOGL have gained 17.4% over the past month and 15.3% over the past six months to close the last trading session at $156.45.
Let's look at factors that could influence GOOGL's performance in the upcoming months.
Outstanding Financials
For the second quarter that ended June 30, 2024, GOOGL's revenues increased 13.6% year-over-year to $84.74 billion. Its <a href="https://www.investopedia.com/terms/o/operatingincome.asp#:~:text=Operating%20income%20is%20an%20accounting,of%20goods%20sold%20(COGS).">operating income</a> rose 25.6% from the year-ago value to $27.43 billion. Its net income was $23.62 billion, up 28.6% year-over-year. Its earnings per share grew 31.3% from the prior year's quarter to $1.89 billion.
In addition, the company's cash and cash equivalents totaled $27.23 billion as of June 30, 2024, compared to $24.05 billion as of December 31, 2023. Its total assets were $414.77 billion versus $402.39 billion as of December 31, 2023.
Favorable Analyst Estimates
Analysts expect GOOGL's revenue for the third quarter (ending September 2024) to grow 12.5% year-over-year to $86.26 billion. The consensus EPS estimate of $1.84 for the ongoing quarter indicates an improvement of 18.5% year-over-year. Further, the company has surpassed consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
For the fiscal year ending December 2024, Wall Street expects Alphabet's revenue and EPS to increase 13% and 31.5% from the previous year to $347.35 billion and $7.63, respectively. The company's revenue and EPS for the fiscal year 2025 are expected to grow 11.3% and 14% year-over-year to $386.67 billion and $8.69, respectively.
Solid Historical Growth
GOOGL's revenue has grown at a CAGR of 17.2% over the past five years. Its EBITDA has increased at a CAGR of 20.9% over the same period, and its levered free cash flow has grown at a CAGR of 16%. Furthermore, the company's net income and EPS have improved at CAGRs of 20.3% and 23% over the same timeframe, respectively.
Additionally, the company's total assets have increased at a CAGR of 10% over the past five years.
Robust Profitability
GOOGL's trailing-12-month gross profit margin of 57.64% is 13.3% higher than the 50.88% industry average. Its trailing-12-month EBITDA margin of 35.18% is 90.5% higher than the 18.47% industry average. Likewise, the stock's trailing-12-month net income margin of 26.70% is significantly higher than the industry average of 3.24%.
Furthermore, GOOGL's trailing-12-month ROCE, ROTC, and ROTA of 30.87%, 20.34%, and 21.13% are considerably higher than the industry averages of 3.49%, 3.81%, and 1.37%, respectively. The stock's trailing-12-month levered FCF margin of 13.40% is 65.3% higher than the industry average of 8.10%.
POWR Ratings Reflect Promise
GOOGL's sound fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. GOOGL has an A grade for Sentiment, in sync with its favorable analyst expectations. In addition, the stock has a B grade for Quality, consistent with higher-than-industry profitability.
Within the B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry, GOOGL is ranked #8 out of 52 stocks.
Beyond what I have stated above, we have also given GOOGL grades for Value, Growth, Momentum, and Stability. Get all GOOGL ratings <a href="https://stocknews.com/stock/GOOGL/">here</a>.
Bottom Line
While Alphabet's dominance in search and digital ads has put it in the crosshairs of antitrust regulators, its outstanding financial performance, innovation in AI and cloud, and expansion into new markets make it a compelling long-term investment. Given robust financials and a bright growth outlook, GOOGL could be an ideal investment for potential gains.
How Does Alphabet Inc. (GOOGL) Stack Up Against Its Peers?
While GOOGL has an overall POWR Rating of B, investors could also check out these other stocks within the <a href="https://stocknews.com/category/internet/">Internet</a> industry with an A (Strong Buy) rating: Meituan ADR (<a href="https://stocknews.com/stock/MPNGY/">MPNGY</a>), Dingdong (Cayman) Ltd (<a href="https://stocknews.com/stock/DDL/">DDL</a>), and Travelzoo (<a href="https://stocknews.com/stock/TZOO/">TZOO</a>).
To explore more A or B-rated internet stocks, <a href="https://stocknews.com/category/internet/">click here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
GOOGL shares were trading at $156.58 per share on Thursday afternoon, up $0.13 (+0.08%). Year-to-date, GOOGL has gained 12.22%, versus a 16.01% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Mangeet Kaur Bouns</h2> <img src='https:/wp-content/uploads/2022/01/Mangeet-Kaur-Bouns_Image-4.jpg' style="float:left; padding:5px;width:125px;">Mangeet's keen interest in the stock market led her to become an investment researcher and financial journalist. Using her fundamental approach to analyzing stocks, Mangeet's looks to help retail investors understand the underlying factors before making investment decisions.<a href="https://stocknews.com/authors/?author=mangeet-kaurbouns">More...</a>The post <a href=https://stocknews.com/news/googl-mpngy-ddl-tzoo-with-antitrust-challenges-looming-is-alphabet-still-a-buy/>With Antitrust Challenges Looming, Is Alphabet Still a Buy?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

With Antitrust Challenges Looming, Is Alphabet Still a Buy?

South Korea's e-commerce giant, Coupang (CPNG), has surged over 40% this year. Yet, despite this impressive rally, a decline in bottom-line performance raises concerns, leaving investors wondering: Can CPNG keep up its momentum? Read on to find out... Founded in 2010 by Bom Kim, a former Harvard Business School student, Coupang, Inc. (<a href="https://stocknews.com/stock/CPNG/">CPNG</a>) has rapidly become South Korea's e-commerce leader, often earning the title of the "Amazon of South Korea." Shares of CPNG have soared 46.5% over the past nine months and 42.1% year-to-date to close the last trading session at $23.
A question lingers in investors' minds despite this impressive run: can Coupang sustain its upward momentum?
While Coupang's financials have shown mixed signals recently, its second-quarter revenue came in at $7.32 billion, slightly missing the anticipated $7.39 billion. However, on the bright side, its adjusted <a href="https://www.investopedia.com/terms/e/eps.asp">earnings per share</a> of $0.07 exceeded the expected break-even point, delivering a $0.07 surprise.
"This quarter, we continued to see deeper levels of engagement from our customers, powered by our relentless focus on providing even greater levels of selection, service, and savings for customers," said CPNG's CFO Gaurav Anand.
Let's look at factors that could influence CPNG's performance in the upcoming months.
Mixed Financials
In the second quarter of 2024, which ended on June 30, CPNG's net revenue increased 25% year-over-year (or 18% excluding the impact of Farfetch) to $7.32 billion. The company's Product Commerce Active Customers also increased by 12%, reaching 21.7 million, while revenue per active customer rose 5% on a constant currency basis.
Moreover, its gross profit grew 41% year-over-year to $2.14 billion, with a gross margin of 29.3%. CPNG's adjusted EBITDA increased 10% from the year-ago value to $330 million.
However, the company reported an operating loss of $25 million, compared to an operating income of $148 million in the prior year's quarter. In addition, its adjusted attributable net income decreased 14.5% year-over-year to $124 million, and adjusted earnings per share came in at $0.07, down 12.5% year-over-year. CPNG's cash outflow from operating activities declined 33.7% year-over-year to $876 million. 
Mixed Analyst Estimates
Analysts expect CPNG's revenue for the third quarter (ending September 2024) to increase 24.8% year-over-year to $7.72 billion. However, the consensus EPS estimate of $0.01 for the same period indicates a 77.7% year-over-year decline.
Similarly, for the fiscal year ending December 2024, CPNG's revenue is expected to grow 24.4% from the prior year to $30.34 billion, while its EPS for the current year is forecasted to be negative at $0.01.
Stretched Valuation
In terms of forward EV/Sales, CPNG is trading at 1.30x, 7.6% higher than the industry average of 1.21x. Likewise, its forward Price/Sales of 1.36x is 56.8% above the industry average of 0.87x. Furthermore, the stock's forward EV/EBITDA and EV/EBIT multiple of 40.75 and 88.76 compares with the industry averages of 9.76 and 14.24, respectively.
Mixed Profitability
CPNG's trailing-12-month ROCE and ROTA of 31.73% and 6.92% are 175.8% and 69.9% higher than their respective industry averages of 11.50% and 4.08%. Likewise, its trailing-12-month asset turnover ratio of 2.10x is 112.3% above the industry average of 0.99x.
However, the stock's trailing-12-month EBIT and levered FCF margins of 1.14% and 3.95% are below their industry averages by 85.6% and 22.7%, respectively. In addition, the stock's 2.95% trailing-12-month ROTC is 51.7% lower than the 6.11% industry average.
POWR Ratings Exhibit Mixed Prospects
CPNG's stance is apparent in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, which translates to Neutral in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. CPNG has a B grade for Momentum is justified by its share price, which is currently trading above its 50-day moving average of $21.64 and 200-day moving average of $19.31.
However, with a five-year beta of 1.10, the stock has earned a grade C for Stability. Also, the stock's C grade for Sentiment is consistent with its mixed analysts' estimates.
CPNG is ranked #42 out of 52 stocks in the B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry. <a href="https://stocknews.com/stock/CPNG/">Click here</a> to access CPNG's Growth, Value, and Quality ratings.
Bottom Line
CPNG remains dominant in South Korea's e-commerce space, but its latest financials raise concerns. While the company exceeded earnings expectations, it missed revenue and customer growth estimates, causing its stock to drop 4.5% immediately following the results. Despite improvements in operational efficiency and adoption of AI-driven automation, the decline in bottom-line performance and mixed analyst forecasts highlight the company's ongoing challenges.
Considering CPNG's higher-than-industry valuation, enhanced volatility, and a slowing retail market in South Korea, it could be wise to wait for a better entry point in this stock now.
How Does Coupang, Inc. (CPNG) Stack Up Against Its Peers?
While CPNG has an overall grade of C, equating to a Neutral rating, you may also check out these A (Strong Buy) or B (Buy) rated stocks within the <a href="https://stocknews.com/category/internet/">Internet</a> industry: Meituan (<a href="https://stocknews.com/stock/MPNGY/">MPNGY</a>), Dingdong (Cayman) Limited (<a href="https://stocknews.com/stock/DDL/">DDL</a>), and Yelp Inc. (<a href="https://stocknews.com/stock/YELP/">YELP</a>). To explore more Internet stocks, <a href="https://stocknews.com/category/internet/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

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CPNG shares were trading at $23.40 per share on Wednesday afternoon, up $0.40 (+1.74%). Year-to-date, CPNG has gained 44.53%, versus a 16.20% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/cpng-mpngy-ddl-yelp-can-coupang-keep-up-its-momentum-as-south-koreas-e-commerce/>Can Coupang Keep up Its Momentum as South Korea's E-Commerce Giant?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Can Coupang Keep up Its Momentum as South Korea's E-Commerce Giant?

The gig is up and in a good way! The global gig economy is set to surge to nearly $2 trillion by 2031. With increasing demand for flexible work and rising global participation, platforms like Fiverr International (FVRR) are leading the charge. Read on to explore why this stock is worth watching as the gig economy expands. The gig economy has been on an unstoppable rise, thanks to the rise of tech-driven freelance marketplaces and on-demand services. What started with ride-sharing apps has now become a full-fledged marketplace for virtually every service imaginable (from food delivery and groceries to finding a plumber or a graphic designer), all with just a few taps on your smartphone.
As digital technologies advance and the work-from-anywhere trend becomes the norm, the gig economy continues to expand. In the past two years alone, about 35 venture-backed companies have raised nearly $800 million, underscoring this space's booming interest and potential. Developing economies also see a surge in gig participation, further fueling this growth.
In this evolving landscape, should you keep an eye on Fiverr International Ltd. (<a href="https://stocknews.com/stock/FVRR/">FVRR</a>)? Let's find out.
Fiverr is a bustling freelance marketplace where people can hire talent from web design to video production, with job postings starting as low as $5. The platform charges a commission on each transaction and offers various subscription options for buyers and sellers. Freelancers on Fiverr can even turn their gigs into full-time careers.
During the Q2 earnings call, CEO Micha Kaufman shared that the company has navigated a challenging macro environment by maintaining operational excellence and delivering profitable growth. He stated, "We've made remarkable strides in our product evolution with the introduction of profession-based catalog and hourly contracts."
Although FVRR saw a dip in traffic in mid-2024, especially in the programming and tech sectors, the company remains optimistic. "Despite a 7% year-over-year decline in U.S. job openings and a 17% drop in the information sector, AI continues to drive growth for Fiverr, particularly in complex services, and is expected to be a growth driver moving forward", Kaufman added.
Shares of FVRR have gained 13.1% over the past six months to close the last trading session at $24.81.
Now, let's look at factors that could influence FVRR's performance in the upcoming months:
Positive Developments
On July 31, FVRR announced <a href="https://investors.fiverr.com/news-releases/news-release-details/fiverr-deepens-ecommerce-solutions-acquisition-leading">the acquisition of AutoDS</a>, a subscription-based drop-shipping platform. AutoDS, which offers tools for product research, inventory management, and automated fulfillment, is expected to significantly boost FVRR's eCommerce capabilities while introducing a new, recurring revenue stream through subscriptions.
Kaufman said the acquisition of AutoDS, which manages over 150 million products and serves tens of thousands of subscribers, supports the company's transition from a marketplace to a platform offering talent and software solutions. Moreover, with the global drop-shipping market expected to soar from $285 billion to over <a href="https://www.oberlo.com/statistics/dropshipping-market">$2 trillion by 2033</a>, AutoDS' automation tools and expansive network are set to enhance FVRR's position in the growing digital services space.
In addition to the acquisition, the company also rolled out new features, including a profession-based <a href="https://www.fiverr.com/news/summer_product_release_2024">catalog and hourly contracts</a>. These additions are designed to expand its market presence and further align with its goal of becoming a full-service platform for talent and software.
Solid Financial Performance
For the second quarter that ended June 30, 2024, FVRR reported revenue of $94.66 million, up 5.9% year-over-year and slightly above the analyst's estimate of $94.63 million. Its non-GAAP gross profit increased by 6.2% year-over-year to $79.93 million, with a margin of 84.4%.
Further, the company's <a href="https://www.investopedia.com/terms/a/adjusted-ebitda.asp">adjusted EBITDA</a> rose 16.8% from the year-ago value to $17.85 million, while its cash outflow from operating activities grew 11.9% from the prior year's quarter to $20.97 million. FVRR's non-GAAP net income amounted to $23.83 million and $0.58 per share, reflecting an increase of 18.9% and 18.4%, respectively, from the same quarter last year.
Also, its free cash flow stood at $20.66 million, up 12.5% year-over-year. Additionally, its cash and cash equivalents increased to $188.73 million as of June 30, 2024, compared to $183.67 million as of December 31, 2023.
Favorable Analyst Estimates
The consensus revenue estimate of $96.39 million for the fiscal third quarter (ending September 2024) represents a 4.2% increase year-over-year. The consensus EPS estimate of $0.61 for the current quarter indicates a 10.1% improvement year-over-year. The company has an excellent earnings surprise history, surpassing the consensus EPS estimates in each of the trailing four quarters.
For the fiscal year ending December 2024, the company's EPS is anticipated to grow 20% year-over-year to $2.34, while its revenue is expected to increase 6.6% from the prior year period to $385.17 million.
In addition, Street expects its revenue and EPS for the fiscal year 2025 to grow 9.8% and 10.5% from the same period last year to $423.02 million and $2.59, respectively.
Lower-Than-Industry Valuation
In terms of forward non-GAAP P/E, FVRR is currently trading at 10.52x, 45.4% lower than the industry average of 19.28x. Similarly, the stock's forward EV/EBIT and EV/EBITDA multiples of 9.32 and 8.74 are 41.3% and 23.5% lower than the industry averages of 15.88x and 11.42x, respectively.
Additionally, the stock's 1.63x forward EV/Sales is 10.4% lower than the industry average of 1.82x.
High Profitability
FVRR's trailing-12-month gross profit margin of 83.34% is 165.7% higher than the 31.36% industry average. Likewise, its trailing-12-month levered FCF margin of 18.49% is 181.8% higher than the industry average of 6.56%.
POWR Ratings Reflect Promise
FVRR's promising outlook is reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to Buy in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories.
FVRR boasts an A grade for Growth, consistent with its solid financial performance in the last reported quarter. Additionally, its B grade for Value and Quality is in sync with its discounted valuation and robust profitability.
The stock is ranked #7 in the <a href="https://stocknews.com/category/internet/">Internet</a> industry. <a href="https://stocknews.com/stock/FVRR/">Click here</a> to access FVRR's Momentum, Stability, and Sentiment ratings.
Bottom Line
The global gig economy isn't just a passing trend; it's on track to become a <a href="https://ssir.org/articles/entry/gig-economy-startups-workers#:~:text=The%20global%20gig%20economy%20is,workers'%20increasing%20demands%20for%20flexibility.">nearly $2 trillion</a> industry by 2031. With a global job shortage and the rising demand for flexible work, gig platforms are thriving. As of March 2024, <a href="https://institute.bankofamerica.com/content/dam/economic-insights/consumer-morsel-gig-economy-is-up.pdf">over 3.8%</a> of Bank of America customers received income from gig platforms, surpassing previous highs. Moreover, the share of gig workers earning monthly income has steadily increased since 2021, underscoring the increasing commitment to freelance work.
As the gig economy continues to grow, FVRR is well-positioned to benefit. With strong financials, increasing profitability, and a bright long-term growth outlook, it could be wise to invest in this stock.
How Does Fiverr International Ltd. (FVRR) Stack Up Against Its Peers?
While FVRR has an overall grade of B, equating to a Buy rating, you may also check out these other stocks within the <a href="https://stocknews.com/category/internet/">Internet</a> industry: Meituan (<a href="https://stocknews.com/stock/MPNGY/">MPNGY</a>), Dingdong (Cayman) Limited (<a href="https://stocknews.com/stock/DDL/">DDL</a>), and Yelp Inc. (<a href="https://stocknews.com/stock/YELP/">YELP</a>), carrying A (Strong Buy) or B (Buy) ratings. To explore more Internet stocks, <a href="https://stocknews.com/category/internet/">click here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

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FVRR shares were trading at $25.40 per share on Friday afternoon, up $0.79 (+3.21%). Year-to-date, FVRR has declined -6.69%, versus a 19.17% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/fvrr-mpngy-ddl-yelp-is-fiverr-a-good-stock-to-watch-as-gig-economy/>Is Fiverr a Good Stock to Watch as Gig Economy Expands?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Is Fiverr a Good Stock to Watch as Gig Economy Expands?

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