Enerpac Tool Group Stock (NYSE:EPAC), Trade Ideas

Enerpac Tool Group

Enerpac Tool Group, previously known as Actuant, provides high-precision tools, controlled-force products, and solutions for precise heavy lifting. The company operates through two segments: industrial tools and services and other. It categorizes its revenue into two parts: product sales and services, which include manpower services and rentals. Product sales is the largest contributor to the company's total revenue. Geographically, the company operates in the United States, Asia, Australia, Europe, Middle East, and other areas. The U.S. makes up the largest contribution to the company's total revenue.

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Enerpac Tool Group Corp (NYSE: EPAC) reported Q1 FY24 revenue from continuing operations of $142 million, up 1.9% Y/Y, 

Tool Company Enerpac Maintains Cautious Tone Regarding FY24 Despite Q1 Beat: Here&#39;s Why

Movers

Enerpac Tool Group Corp (NYSE: EPAC) shares are trading higher by around 12% after the company reported Q4 FY23 results 

Why Enerpac Tool Group Shares Are Trading Higher Today

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U.S. stocks traded mixed, with the Dow Jones dropping around 50 points on Thursday. Here are some big stocks recording gains in today’s session.


Steelcase, Commercial Metals And Other Big Stocks Moving Higher On Thursday

Enerpac Tool Group Corp

Goldman Sachs analyst Eric Sheridan maintains Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) with a Buy and lowers the price target from $555 to $500.

Price Target

Analyst Ratings

Goldman Sachs Maintains Buy on Meta Platforms, Lowers Price Target to $500

Buybacks

TAL Education's Board Of Directors Extend The Share Repurchase Program Launched In April 2021 By Another 12 Months

Goldman Sachs analyst Brooke Roach initiates coverage on Victoria's Secret (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>) with a Sell rating and announces Price Target of $14.

Initiation

VSCO

Goldman Sachs Initiates Coverage On Victoria's Secret with Sell Rating, Announces Price Target of $14

Goldman Sachs analyst Brooke Roach upgrades TJX Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) from Neutral to Buy and raises the price target from $100 to $110.

Upgrades

Goldman Sachs Upgrades TJX Companies to Buy, Raises Price Target to $110

TAL Education (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAL#NYSE">TAL</a>) reported quarterly adjusted earnings of $0.08 per share which beat the analyst consensus estimate of $0.02 by 300 percent. This is a 500 percent increase over losses of $(0.02) per share from the same period last year. The company reported quarterly sales of $429.56 million which beat the analyst consensus estimate of $389.78 million by 10.21 percent. This is a 59.70 percent increase over sales of $268.99 million the same period last year.

Earnings Beats

TAL Education Q4 Adj $0.08 Beats $0.02 Estimate, Sales $429.56M Beat $389.78M Estimate

Deutsche Bank analyst Scott Deuschle maintains Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) with a Hold and raises the price target from $467 to $487.

Deutsche Bank Maintains Hold on Lockheed Martin, Raises Price Target to $487

The number of Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) tokens being burnt has significantly decreased over the past week amid a parallel surge in SHIB prices by nearly 15% in the last seven days. 
What Happened: Shibburn, a social media handle on X that tracks the number of SHIB tokens being burnt, reported a 39.90% decline in the number of tokens burnt over the past week. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">HOURLY SHIB UPDATE<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> Price: $0.00002512 (1hr -0.19% ▼ &#x7C; 24hr -7.56% ▼ ) Market Cap: $14,784,402,651 (-7.62% ▼) Total Supply: 589,273,968,765,110 TOKENS BURNT Past 24Hrs: 22,346,657 (0% ▲) Past 7 Days: 428,035,239 (-39.92% ▼)
&mdash; Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1783390532636496063?ref_src=twsrc%5Etfw">April 25, 2024</a></blockquote>
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Over the last 24 hours, 22,346,657 tokens were burned, showing no change from the previous period.
The meme cryptocurrency is currently trading at $0.00002512, marking a 15.01% surge over the past seven days.
The total supply of Shiba Inu tokens is currently at 589,273,968,765,110, with a market cap of $14,784,402,651.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38386424/shiba-inu-whale-accumulates-237b-shib-in-one-transaction-much-in-store-for-the-shib-army-v?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Whale Accumulates 237B SHIB In One Transaction: &#8216;Much In Store For The SHIB Army,&#8217; Vows Lead Developer</a>
Why It Matters: The recent surge in Shiba Inu&#8217;s price comes amid a series of significant developments in the Shiba Inu community.
Just a day ago, a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38386424/shiba-inu-whale-accumulates-237b-shib-in-one-transaction-much-in-store-for-the-shib-army-v">whale accumulated 237 billion SHIB tokens</a> in a single transaction, signaling confidence in the meme coin&#8217;s performance. This whale activity was accompanied by a 26% weekly surge in Shiba Inu&#8217;s price.
Earlier in the week, Shiba Inu also saw a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38346682/shiba-inu-army-cheers-as-burn-rate-soars-172-price-rebounds">172% surge in its burn rate</a>, coinciding with a notable rebound in SHIB&#8217;s market price. This increase in token burn rate removed over 5 million SHIB tokens from circulation, sending them to a &#8220;dead&#8221; wallet where they can no longer be traded or accessed.
Price Action: Shiba Inu is currently trading at $0.00002512, reflecting a 7.90% decline in the last 24 hours. The coin has surged over 148% year-to-date. Meanwhile, its primary competitor, Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), is trading at $0.1513, with a 6.66% decline in the last 24 hours and a 68.98% increase year-to-date. 
Comparatively, the king of cryptocurrencies, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), is trading at $64,221.70, showing a 0.05% decline in the last 24 hours and a 45.39% increase year-to-date, according to data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38376705/doge-shiba-and-other-memecoins-fueling-mass-adoption-of-bases-l2-network-coinbase-e?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin, Shiba Inu And Other Memecoins Fueling Mass Adoption Of Base&#8217;s L2 Network, Coinbase Exec Says: &#8216;They Are Going To Be One Of The Biggest Drivers&#8217;</a>
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'Dogecoin Killer' Shiba Inu Burn Rate Drops Over Last 24 Hours, Mirrors Decline In Price

Check Point Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>) reported quarterly earnings of $2.04 per share which beat the analyst consensus estimate of $2.01 by 1.49 percent. This is a 13.33 percent increase over earnings of $1.80 per share from the same period last year. The company reported quarterly sales of $598.800 million which beat the analyst consensus estimate of $595.118 million by 0.62 percent. This is a 5.76 percent increase over sales of $566.200 million the same period last year.

CHKP

Check Point Software Q1 2024 Adj EPS $2.04 Beats $2.01 Estimate, Sales $598.800M Beat $595.118M Estimate

Global Autos Analyst Tom Narayan expressed concerns over the decreasing prices of electric vehicles (EVs), which could potentially hinder profitability for automakers.
What Happened: Narayan, during CNBC&#8217;s &#8220;Last Call&#8221; on Wednesday, pointed out that the pricing for EVs seems to be on a downward trend. This could pose a significant challenge for automakers like Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) in achieving profitability in the EV sector. 
He stated, "If pricing keeps coming down it'll be tough to get there."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"The issue here is pricing for EVs looks like it's only going to go lower," says <a href="https://twitter.com/rbccm?ref_src=twsrc%5Etfw">@rbccm</a> Global Autos Analyst Tom Narayan as EV profitability remains elusive for automakers like Ford. "If pricing keeps coming down it'll be tough to get there." <a href="https://twitter.com/search?q=%24F&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$F</a> <a href="https://twitter.com/search?q=%24GM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GM</a> <a href="https://twitter.com/search?q=%24STLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$STLA</a> <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> <a href="https://t.co/ZHcDEI3cXE">pic.twitter.com/ZHcDEI3cXE</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1783278927928029358?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38367087/tesla-q1-earnings-preview-is-ev-giant-no-longer-a-growth-stock-analysts-cautious-wa?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Q1 Earnings Preview: Is EV Giant No Longer A &#8216;Growth Stock?&#8217; Analysts Cautious, Want Answers About Robotaxis, Model 2</a>
Why It Matters: Narayan&#8217;s tweet comes in the wake of <a href="https://www.benzinga.com/news/24/04/38423295/ford-cfo-says-ev-price-cuts-bringing-down-revenue-faster-than-company-can-cut-costs-if-the-pricing-s">Ford&#8217;s CFO, John Lawler, expressing concerns</a> over the rapid decrease in revenue due to EV price cuts. Lawler emphasized the company&#8217;s commitment to cost-cutting in its EV segment to counter the losses.
Earlier, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) had also <a href="https://www.benzinga.com/markets/equities/24/04/38348232/tesla-aggressively-cuts-prices-ahead-of-q1-report-ev-maker-lowers-model-3-y-prices-in-china-by-u">announced significant price cuts</a> in all trim levels of its electric vehicles in China, following a round of price cuts in the U.S.
Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) CEO Carlos Tavares had previously <a href="https://www.benzinga.com/news/24/01/36705212/stellantis-ceo-cautions-against-cost-reductions-after-tesla-slashes-price-of-its-best-selling-suv-yo">cautioned against price reductions</a> that might risk profitability and potentially make car manufacturers acquisition targets.
Price Action: As of close on Wednesday, Ford shares closed at $13.26, Tesla at $160.55, and Stellantis at $24.95, according to<a href="https://pro.benzinga.com"> Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38374423/elon-musk-reacts-as-ark-invest-analyst-says-its-going-to-be-very-hard-for-tesla-rivals-to-catch-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts As ARK Invest Analyst Says &#8216;It&#8217;s Going To Be Very Hard&#8217; For Tesla Rivals &#8216;To Catch Up To &nbsp;Them&#8217; In Pricing: &#8216;Accurate&#8217;</a>
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To Lower Or Not? EV Pricing Dilemma Hampers Ford's Profitability, Warns Analyst

Influential analyst Rich Greenfield expressed uncertainty about the monetization of AI chatbots, despite acknowledging Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) as a key player in the crowded AI space.
What Happened: During &#8220;Last Call&#8221; CNBC on Wednesday, Greenfield highlighted that Meta&#8217;s commitment to AI investments comes at a time when the space has become &#8220;crowded&#8221; with competition from ChatGPT by Microsoft and OpenAI, Google Gemini, Anthropic, Perplexity.AI and more. 
"There is no doubt that $META is going to be a major player. I think the challenge for investors is one, how big is this investment cycle, given the level of competition, " Greenfield said.
He highlighted that while Meta&#8217;s investments in their virtual reality unit Reality Labs and their collaboration with Ray-Ban on AR headsets have been huge, these were not as competitive as the AI space.
"It's not so clear right now,&#8221; Greenfield said.
&#8220;Yes, AI is making your recommendations better and AI is making the ads better, the content on Facebook and Instagram is going to be better. But how you actually monetize an AI chatbot&#8230;the use case and the monetization, isn&#8217;t clear. It&#8217;s really early days," Greenfield said, advising investors to learn more about the same.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"This is a very crowded space. There's no doubt that <a href="https://twitter.com/search?q=%24META&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$META</a> is going to be a major player," says <a href="https://twitter.com/RichLightShed?ref_src=twsrc%5Etfw">@RichLightShed</a> on Meta's commitment to AI investments. "It's not so clear right now… how you actually monetize an AI chatbot. The use case and the monetization is not clear." <a href="https://t.co/Zo0Xn5DB1U">pic.twitter.com/Zo0Xn5DB1U</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1783273225603965242?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38345502/elon-musk-reacts-after-nvidia-stock-plunges-10-and-erases-212b-market-cap-rookie-numbers?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Nvidia Stock Plunges 10% And Erases $212B Market Cap: &#8216;Rookie Numbers&#8217;</a>
Why It Matters: Meta&#8217;s focus on AI development has been evident, with CEO Mark Zuckerberg recently <a href="https://www.benzinga.com/markets/equities/24/04/38422805/mark-zuckerberg-shifts-metas-focus-to-ai-agents-over-chatbots-apple-to-pursue-similar-holy-grail">hinting at a shift from chatbots </a>to more advanced AI &#8216;agents&#8217; during the<a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding"> company&#8217;s Q1 2024 earnings call</a>. These AI agents, as per Zuckerberg, would be capable of handling more complex tasks and goals, performing numerous queries to achieve the desired outcome.
Moreover, Zuckerberg revealed that over 50% of the content on Instagram and 30% of posts on Facebook are <a href="https://www.benzinga.com/news/24/04/38420928/meta-ceo-mark-zuckerberg-more-than-50-of-the-content-people-see-on-instagram-is-now-ai-recommended">now recommended by artificial intelligence</a>. This revelation came during Meta's first-quarter financial results announcement, where the company reported a 27% year-over-year increase in revenue, beating Street consensus estimates.
Price Action: Meta&#8217;s stock closed at $493.50 on Wednesday, marking a 15.57% decrease from its previous close. The company&#8217;s Q1 earnings per share stood at $4.710, surpassing the estimated $4.320.
Read Next: <a href="https://www.benzinga.com/news/24/04/38349837/elon-musk-agrees-every-american-household-will-have-a-1-000-per-month-home-robot-in-7-years-time?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees Every American Household Will Have A $1,000-Per-Month Home Robot In 7 Years&#8217; Time</a>
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Mark Zuckerberg's Big AI Dreams For Meta 'Not So Clear:' Analyst Questions Profitability Of AI Chatbots

Business&nbsp;Outlook
For the three months ended&nbsp;March 31, 2024, the Company expects its retail transaction volume to be around 3,100 units and wholesale transaction volume to be around 900 units. The Company estimates that its total revenues including retail vehicle sales revenue, wholesale vehicle sales revenue and value-add-services revenue to be within the range of&nbsp;RMB300 million&nbsp;to&nbsp;RMB320 million. The Company expects its&nbsp;gross profit&nbsp;margin to be greater than&nbsp;6.5%. These forecasts reflect the Company&#39;s current and preliminary views on the market and operational conditions, which are subject to changes.

UXIN

Uxin Expects Q4 Revenue of RMB300M-RMB320M

Uxin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UXIN#NASDAQ">UXIN</a>) reported quarterly losses of $(0.01) per share which beat the analyst consensus estimate of $(0.36) by 97.22 percent. The company reported $57.815 million in sales this quarter. This is a 15.25 percent decrease over sales of $68.216 million the same period last year.

Uxin Q3 2024 Adj EPS $(0.01) Beats $(0.36) Estimate, Sales $57.815M Down From $68.216M YoY

Sen. Ted Cruz (R-TX) on Wednesday <a href="https://www.benzinga.com/topic/congress-trades">disclosed a transaction</a> in investment bank Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), and this has raised some eyebrows.
What Happened: In a filing with the Senate, Cruz said his spouse sold Goldman shares on April 15 and the proceeds could be worth up to $500,000. Incidentally, the company reported its quarterly results on the same day. The sale was mentioned as part offloading of the position.
The filing was in line with the &#8220;Stock Trading on Congressional Knowledge Act,&#8221; which requires Congressmen to publicly file and disclose any financial transaction within 45 days of its occurrence.&nbsp;The values of trades are given in a range.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="347" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25033026/image-213-1024x347.png" alt="" class="wp-image-308074" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25033026/image-213-1024x347.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25033026/image-213-300x102.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25033026/image-213-768x261.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25033026/image-213-1536x521.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25033026/image-213.png 1872w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Incidentally, Cruz&#8217; wife Heidi Cruz has been with Goldman since 2005 and she is currently serving as Managing Director at the firm.
See Also: <a href="https://www.benzinga.com/money/best-bank-stocks">Best Bank Stocks Right Now</a>
Why It&#8217;s Important: Goldman is among the big banks, which reported stellar results for the first quarter. The stock rallied about 3% to $400.88 on the day of its earnings release (April 15) before pulling back about 1% in the very next session.
Since then, the stock has reversed course and ended Wednesday&#8217;s session at $423.04, down 0.23% from its previous close, according to<a href="https://benzinga.grsm.io/lxquj26b2sag"> Benzinga Pro data.</a>
The company reported first-quarter top- and bottom-line beats, thanks to strong trading and investment banking revenues. CNBC Mad Money host Jim Cramer <a href="https://www.benzinga.com/markets/equities/24/04/38290992/jim-cramer-says-he-likes-earnings-from-these-big-banks-so-much-heres-why">picked Goldman as one of the big bank </a>earnings he liked this season due to the strong fee income relative to net interest income.
Given details of the purchase of those shares aren&#8217;t readily available, it isn&#8217;t known whether the transaction netted the senator a profit.
When Cruz was panned for allegedly inciting the Jan. 6, 2021 insurrection, corporate America chose to distance itself from tainted politicians. Goldman was among them but it chose to stand by Cruz&#8217;s wife who was employed with them.
Read Next: <a href="https://www.benzinga.com/news/24/04/38185125/elon-musk-agrees-with-ted-cruz-on-putting-homeland-security-secretary-on-trial-the-precedent-is-crys">Elon Musk Agrees With Ted Cruz On Putting Homeland Security Secretary On Trial: &#8216;The Precedent Is Crystal Clear&#8217;</a>
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Government

Regulations

Politics

GOP Senator Ted Cruz Sold Shares Of This Big Bank On Q1 Earnings Release Date: Here Are The Details

Group Financial Targets and Outlook: 2024 &bull; Returns: targeting RoTE of greater than 10% and c.10.5% excluding inorganic activity &bull; Income: targeting Barclays Group NII excluding IB and Head Office of c.&pound;10.7bn, of which Barclays UK NII of c.&pound;6.1bn1 &bull; Costs: targeting Group cost: income ratio of c.63%, which includes c.&pound;1bn of gross efficiency savings in 2024 &bull; Impairment: expect an LLR of 50-60bps through the cycle &bull; Capital: expect to operate within the CET1 ratio target range of 13-14% 2026 &bull; Returns: targeting a greater than 12% RoTE &bull; Capital returns: plan to return at least &pound;10bn of capital to shareholders between 2024 and 2026, through dividends and share buybacks, with a continued preference for buybacks. Plan to keep total dividend stable at 2023 level in absolute terms, with progressive dividend per share growth driven through share count reduction as a result of increased share buybacks. Dividends will continue to be paid semi-annually. This multi-year plan is subject to supervisory and Board approval, anticipated financial performance and our published CET1 ratio target range of 13-14% &bull; Income: targeting Group total income of c.&pound;30bn &bull; Costs: targeting total Group operating expenses of c.&pound;17.0bn and a Group cost: income ratio of high 50s in percentage terms. This includes total gross efficiency savings of c.&pound;2bn by 2026 &bull; Impairment: expect an LLR of 50-60bps through the cycle &bull; Capital: expect to operate within the CET1 ratio target range of 13-14%&ndash; Targeting IB RWAs of c.50% of Group RWAs in 2026&ndash; Impact of regulatory change on RWAs in line with prior guidance, expected to be at lower end of 5&ndash;10% of Group RWAs. This includes c.&pound;16bn RWAs expected in H224 due to USCB moving to Internal Ratings-Based (IRB) models

Barclays Reiterated  2024 Outlook: Targets Barclays Group NII Excluding Barclays Investment Bank And Head Office Of £10.7B, Expects RoTE Of Greater Than 10% In 2024 And 10.5% Excluding Inorganic Activity

Unilever Continues To Expect FY24 Underlying Sales Growth To Be Within Its Multi-year Range Of 3% - 5%, With Increasing Contribution From Volume Growth

Unilever Q1 FY24 Sales €15.0B, Up 1.4% YoY, With Underlying Sales Growth Of 4.4%

Barclays (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>) reported quarterly earnings of $0.52 per share which missed the analyst consensus estimate of $0.58 by 10.34 percent. The company reported $8.818 billion in sales this quarter. This is a 0.32 percent increase over sales of $8.790 billion the same period last year.

Earnings Misses

Barclays Q1 2024 GAAP EPS $0.52 Misses $0.58 Estimate, Sales $8.818B Up From $8.790B YoY

Mark Zuckerberg has outlined three strategies for Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) to monetize its <a href="https://www.benzinga.com/news/24/04/38400945/metas-massive-1b-bet-on-nvidia-h100-gpu-cluster-will-dwarf-every-other-companys-target-but-zuckerber">substantial investments</a> in artificial intelligence (AI.)
What Happened: Zuckerberg, during the <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">March 2024 quarter earnings</a> call, expressed his confidence in Meta&#8217;s AI capabilities, particularly with the launch of Llama 3, the company&#8217;s latest AI model.
He stated that Meta will &#8220;invest significantly more over the coming years to build even more advanced models and the largest scale AI services in the world.&#8221;
Despite the substantial costs associated with this ambition, Meta plans to increase its capital expenditure for this year to $35 billion to $40 billion, primarily for AI investments. This announcement resulted in a 16% stock drop in after-hours trading.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/04/38397316/elon-musk-says-morgan-freeman-is-awesome-after-american-actor-says-hes-a-huge-fan-of-tesla-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Morgan Freeman Is &#8216;Awesome&#8217; After American Actor Says He&#8217;s A Huge Fan Of Tesla CEO</a>
Zuckerberg, however, is confident that Meta&#8217;s AI investments will yield significant profits in the future. He outlined three specific ways in which AI could become a &#8220;massive business&#8221; for Meta.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<h2 class="wp-block-heading">Zuckerberg's 3-Step Plan To Monetize AI Investments:</h2>
<h4 class="wp-block-heading">1. Charging Companies For Using Generative AI Tools</h4>
The first method involves companies paying Meta for generative AI tools, such as services supporting automated interactions with users and customers. This could become a reality within the next five years, according to Zuckerberg.
<h4 class="wp-block-heading">2. Advertisements</h4>
The second approach is to integrate ads or paid content into AI interactions. This aligns with Meta&#8217;s core business of selling digital advertising.
<h4 class="wp-block-heading">3. Monetizing Large AI Models</h4>
The third potential revenue stream is charging for access to Meta&#8217;s increasingly larger AI models.
Why It Matters: Zuckerberg&#8217;s announcement comes after Meta <a href="https://www.benzinga.com/news/24/04/38421280/metas-stock-plunge-after-q1-numbers-an-overreaction-to-zuckerbergs-capex-move-says-gene-munster-he-w">announced plans</a> to significantly increase its capital expenditure for AI investments.
This move has raised concerns among investors, given the company&#8217;s history of overspending on new technologies, such as the Metaverse.
These strategies align with Meta&#8217;s recent AI initiatives, including the launch of its latest AI model, <a href="https://www.benzinga.com/news/24/04/38330339/mark-zuckerbergs-meta-says-llama-3-beats-googles-gemini-mistral-and-jeff-bezos-backed-anthropics-cla">Llama 3</a>, which has outperformed other AI models in benchmark tests.
Price Action: Meta stock closed 0.52% lower at $493.50 on Wednesday, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38420928/meta-ceo-mark-zuckerberg-more-than-50-of-the-content-people-see-on-instagram-is-now-ai-recommended">Meta CEO Mark Zuckerberg: &#8216;More Than 50% Of The Content People See On Instagram Is Now AI Recommended&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Mark Zuckerberg Photo by Alexandros Michailidis on Shutterstock

Mark Zuckerberg Lays Down How Meta Will Make Money From Its Multi-Billion Dollar AI Bet

Subsea 7 (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SUBCY#OTC">SUBCY</a>) reported quarterly earnings of $0.09 per share which beat the analyst consensus estimate of $(0.03) by 400 percent. The company reported quarterly sales of $1.395 billion which missed the analyst consensus estimate of $1.492 billion by 6.53 percent. This is a 11.96 percent increase over sales of $1.246 billion the same period last year.

SUBCY

Subsea 7 Q1 2024 GAAP EPS $0.09 Beats $(0.03) Estimate, Sales $1.395B Miss $1.492B Estimate

Pershing Square founder Bill Ackman has in the past made <a href="https://www.benzinga.com/news/23/09/34429616/bill-ackman-calls-for-strong-alternatives-to-very-beatable-biden-and-trump-but-tells-why-he-wont-run">no bones about his displeasure</a> about President Joe Biden&#8217;s handling of his job and on Wednesday, he categorically ruled out voting for the incumbent.
Biden Or Trump: &#8220;For anyone who is still confused on the topic, I am not voting for Biden,&#8221; he said in a post on X, formerly Twitter. When a conservative journalist prodded him as to whether he would vote for probable Republican nominee Donald Trump, he did not rule out the possibility.
&#8220;And yes, I am open to voting for [Donald Trump],&#8221; Ackman said. But he hinted that he could make his final choice closer to the election date. &#8220;I will share whom I am supporting when I make my decision closer to the election. I like to preserve optionality,&#8221; he said.
<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">For anyone who is still confused on the topic, I am not voting for Biden.
&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1783294245215908143?ref_src=twsrc%5Etfw">April 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In a separate thread, replying to a social-media user&#8217;s question as to whether he has ever voted for a Republican, Ackman said he voted for Trump in 2016.
See Also: <a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a>
Hostage Issue: Separately, Ackman responded to a post regarding the White House&#8217;s briefing on Biden signing the Ukraine and Israeli aid bill into law. The hedge-fund manager slammed the president for not acting decisively on the hostages being held in Gaza.
&#8220;I have not heard @potus Biden take ownership of this issue,&#8221; Ackman said.
&#8220;I have heard him talk about calls for a ceasefire, shrinkflation, hotel fees, and four more years, but not the fact that hostages including American hostages are still being held in Gaza.&#8221;
This is evident from the president&#8217;s delegation to staff and what he speaks to the American public, Ackman said. &#8220;He has not made clear that returning the hostages is high on his priority list. He is too focused on other talking points in an attempt to get re-elected. And the media are letting him off the hook on this issue,&#8221; he added.
The hostage issue came to the centerstage on Wednesday after Hamas released a <a href="https://www.nytimes.com/live/2024/04/24/world/israel-gaza-war-hamas">video</a> of Israeli-American  Hersh Goldberg-Polin, who was taken captive during the Oct. 7 Hamas strikes against Israel. 
Ackman has in the past expressed hopes that<a href="https://www.benzinga.com/news/23/03/31469332/not-biden-bill-ackman-says-this-corporate-ceo-more-likely-to-win-against-trump-in-presidential-race"> JPMorgan CEO Jamie Dimon would throw in his hat in the ring </a>and contest in the Democratic primary. He previously approved of businessman Vivek Ramaswamy, who has since then dropped off the race. The fund manager was also found backing Democrat turned-independent candidate Robert Kennedy Jr.&#8217;s stance on the COVID-19 vaccine. In January, he denoted $1 million to support Rep. Dean Phillips (D-Minn.) to become the Democratic nominee in the 2024 presidential election. Phillips quit the race in early March.
Read Next: <a href="https://www.benzinga.com/news/24/02/37253969/bill-ackman-reveals-first-investment-book-he-read-was-the-same-one-that-influenced-warren-buffett-it">Bill Ackman Reveals First Investment Book He Read Was The Same One That Influenced Warren Buffett: &#8216;It Was Kind Of The Inspiration For My Career…&#8217;</a>
Trump vs Biden illustration was generated using artificial intelligence via MidJourney.

Media

Bill Ackman Says 'Not Voting For Biden,' Slams President For Inaction On American Hostage Issue: 'Too Focused On Other Talking Points…To Get Re-elected'

From reshaping manufacturing methods to spearheading the adoption of sustainable solutions, the industrial sector has a profound and far-reaching influence on a global scale. In light of this, let's analyze the fundamentals of three industrial stocks: Sonoco Products (SON), Gibraltar Industries (ROCK), and Enerpac Tool Group (EPAC). Read more… The industrial and machinery sector plays a vital role in the economy, supplying crucial equipment, machinery, and services to diverse industries. As economies grow, there is a tendency for an upsurge in demand for industrial equipment and machinery, creating opportunities for sustained growth.
Given the backdrop, it could be wise to consider investing in three fundamentally sound industrial companies: Sonoco Products Company (<a href="https://stocknews.com/stock/SON/">SON</a>), Gibraltar Industries, Inc. (<a href="https://stocknews.com/stock/ROCK/">ROCK</a>), and Enerpac Tool Group Corp. (<a href="https://stocknews.com/stock/EPAC/">EPAC</a>).
But before we jump into the fundamentals of the highlighted stocks, let us briefly examine the factors shaping the industry's prospects.
Despite the industrial sector facing tough times in recent years, dealing with the lasting effects of the pandemic, an ongoing shortage of skilled workers, and disruptions in the supply chain, the industry is anticipated to bounce back. This optimism stems from the industry's <a href="https://www2.deloitte.com/us/en/insights/industry/manufacturing/manufacturing-industry-outlook.html">adoption of cutting-edge technology</a>, showcasing a resilient spirit in navigating challenges and adapting to new solutions.
There is a notable trend among companies adopting a smart factory approach, immersing themselves in the industrial metaverse, and exploring the potentials of generative AI, all aimed at elevating the value of their operations.
According to a study by Deloitte, an impressive 86% of surveyed manufacturing executives express the belief that smart factory solutions will emerge as the leading drivers of competitiveness in the coming five years.
With the expectation of a surge in the adoption of cutting-edge technologies like the Internet of Things (IoT), Artificial Intelligence (AI), and robotics to enhance machinery efficiency and productivity, the global industrial machinery market is forecasted to hit a staggering <a href="https://www.acumenresearchandconsulting.com/industrial-machinery-market">$1.04 trillion</a> by 2032, growing at a 5.3% CAGR from 2023 to 2032.
Meanwhile, the packaging segment of the industrial sector is growing at a rapid pace, fueled by the evolving needs of global supply chains, the influence of e-commerce, and technological advancements. The global industrial packaging market size is predicted to reach $132.80 billion by 2032, exhibiting a <a href="https://www.globenewswire.com/news-release/2023/12/15/2796863/0/en/Global-Industrial-Packaging-Market-Size-To-Worth-USD-132-8-Billion-By-2032-CAGR-of-6-8.html">6.8% CAGR</a> from 2022 to 2032.
In light of such encouraging projections, let's now dig deeper into the fundamentals of the featured industrial stocks in detail:
Sonoco Products Company (<a href="https://stocknews.com/stock/SON/">SON</a>)
SON designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates through two segments: Consumer Packaging and Industrial Paper Packaging.
On December 8, 2023, SON paid its shareholders a quarterly dividend of $0.51 per share. The company's annual dividend of $2.04 translates to a 3.64% yield on the prevailing prices, while its four-year average dividend yield is 3.18%.
Its dividend payouts have grown at CAGRs of 5.5% and 4.5% over the past three and five years, respectively. Also, SON has a record of 41 years of consecutive dividend growth.
On September 8, 2023, SON completed its acquisition of RTS Packaging, LLC. Originally announced on November 9, 2022, this acquisition enhances SON's position as a diversified global packaging leader, particularly in providing 100% recycled fiber-based packaging solutions for consumer markets such as wine, spirits, food, beauty, and healthcare.
Through this acquisition, SON expanded its reach, incorporating a network of 15 operations and adding 1,100 employees across the United States, Mexico, and South America.
SON's trailing-12-month levered FCF margin of 6% is 44.2% higher than the 4.16% industry average. Likewise, its trailing-12-month Return On Common Equity (ROCE) of 23.04% is 209.2% higher than the industry average of 7.45%. Furthermore, the stock's trailing-12-month cash per share of $2.63 is 71.7% higher than the industry average of $1.53.
For the fiscal third quarter, which ended on October 1, 2023, SON's net sales amounted to $1.71 billion, while its gross profit stood at $364.26 million. The company's attributable net income rose 6.9% from the year-ago value to $130.75 million. Moreover, its <a href="https://www.investopedia.com/terms/e/eps.asp">EPS</a> came in at $1.32, up 6.5% from the prior-year quarter.
Analysts predict SON's revenue and EPS for the fiscal fourth quarter (ended December 2023) to come in at $1.62 billion and $1.10, respectively. Moreover, the company surpassed its EPS estimates in three of the trailing four quarters, which is impressive.
Over the past three months, the stock has surged 3.7% to close the last trading session at $55.98.
SON's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this promising outlook. The stock has an overall B rating, translating to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.  
It has a B grade for Stability and Sentiment. In the B-rated 20-stock <a href="https://stocknews.com/category/industrial-packaging/">Industrial - Packaging</a> industry, it is ranked #7. <a href="https://stocknews.com/stock/SON/">Click here</a> to see SON's ratings for Growth, Value, Momentum, and Quality.    
Gibraltar Industries, Inc. (<a href="https://stocknews.com/stock/ROCK/">ROCK</a>)
ROCK manufactures and distributes building products for the renewable energy, residential, agtech, and infrastructure markets. It operates through four segments: Renewables; Residential; Agtech; and Infrastructure.
ROCK's trailing-12-month levered FCF margin of 17.87% is 199.9% higher than the 5.96% industry average. Likewise, its trailing-12-month asset turnover ratio of 1.04x is 28.5% higher than the industry average of 0.81x. Furthermore, the stock's trailing-12-month cash per share of $2.81 is 32.6% higher than the industry average of $2.12.
In the fiscal third quarter, which ended on September 30, 2023, ROCK's net sales amounted to $390.74 million, while its gross profit rose 11.5% from the year-ago value to $105.38 million.
Moreover, the company's net income and net income per share came in at $39.28 million and $1.28, up 14.5% and 18.5% from the prior-year quarter, respectively. In addition, its income from operations improved 12.2% year-over-year to $53.19 million.
The consensus revenue estimate of $331.33 million for the fiscal fourth quarter (ended December 2023) represents a 5.6% year-over-year improvement. Meanwhile, the consensus EPS estimate of $0.85 for the same period reflects an 18.1% year-over-year rise.
Moreover, the company has an excellent earnings surprise history, surpassing the EPS estimates in three of the trailing four quarters.
ROCK's shares have surged 26.8% over the past six months and 24.9% over the past three months to close the last trading session at $79.75.
ROCK's strong fundamentals are reflected in its POWR Ratings. It has an overall rating of A, which equates to a Strong Buy in our proprietary rating system.
It has an A grade for Growth, Momentum, and Sentiment and a B for Quality. Within the 34-stock <a href="https://stocknews.com/category/industrial-metals/">Industrial - Metals</a> industry, it is ranked first. <a href="https://stocknews.com/stock/ROCK/">Click here</a> to see the other ratings of ROCK for Value and Stability.    
Enerpac Tool Group Corp. (<a href="https://stocknews.com/stock/EPAC/">EPAC</a>)
EPAC manufactures and sells a range of industrial products and solutions internationally. The company operates through two segments: Industrial Tools &amp; Services; and other segments.
On October 16, 2023, EPAC paid its shareholders an annual dividend of $0.04 per common share. Its annual dividend translates to a 0.14% yield on the prevailing prices, while its four-year average dividend yield is 0.18%.
EPAC's trailing-12-month levered FCF margin of 11.46% is 92.3% higher than the 5.96% industry average. Likewise, its trailing-12-month gross profit margin of 50.31% is 65.2% higher than the industry average of 30.46%. Furthermore, the stock's trailing-12-month EBITDA margin of 24.06% is 73.9% higher than the industry average of 13.83%.
For the fiscal 2024 first quarter, which ended on November 30, 2023, EPAC's net sales increased 1.9% year-over-year to $141.97 million, while its operating profit improved 132.9% from the year-ago value to $28.66 million.
The company's net income grew 185.9% from the prior-year quarter to $18.30 million. Its adjusted EPS and adjusted EBITDA came in at $0.39 and $34.90 million, up 34.5% and 31.2% year-over-year, respectively.
Street expects EPAC's revenue and EPS for the fiscal second quarter (ending February 2024) to come in at $141.10 million and $0.36, respectively. Additionally, its EPS is projected to improve by 12.2% per annum over the next five years.
EPAC's shares have soared 7.1% over the past six months to close the last trading session at $29.37.
It's no surprise that EPAC has an overall rating of A, which equates to a Strong Buy in our proprietary rating system. It has a B grade for Growth, Sentiment, and Quality. Out of 79 stocks in the A-rated <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> industry, it is ranked #7.    
In addition to the POWR Ratings we've stated above, we also have EPAC's ratings for Value, Momentum, and Stability. Get all EPAC ratings <a href="https://stocknews.com/stock/EPAC/">here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
SON shares were trading at $55.83 per share on Thursday morning, down $0.15 (-0.27%). Year-to-date, SON has declined -0.07%, versus a -0.33% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Anushka Mukherjee</h2> <img src='https:/wp-content/uploads/2023/06/Anushka-Mukherjee_Headshot-2.jpg' style="float:left; padding:5px;width:125px;">Anushka's ultimate aim is to equip investors with essential knowledge that empowers them to make well-informed investment choices and attain sustained financial prosperity in the long run.<a href="https://stocknews.com/authors/?author=anushka-mukherjee">More...</a>The post <a href=https://stocknews.com/news/son-rock-epac-are-these-3-industrial-stocks-worth-buying-in-2024/>Are These 3 Industrial Stocks Worth Buying in 2024?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Are These 3 Industrial Stocks Worth Buying in 2024?

Enerpac Tool says CFO Anthony Colucci to step down

Enerpac Tool Group (EPAC) has released an update to notify the public and investors about a regulation fd disclosure. The Company has released a ne...

Enerpac Tool Group Unveils Key Operational Insights

Enerpac Tool Group (EPAC) has released an update to notify the public and investors about its officers. Anthony P. Colucci, CFO of Enerpac Tool Gro...

Enerpac Tool Group Announces Executive Team Changes

Enerpac Tool Group: Assessing The Picture Heading Into Earnings, I Am Unimpressed

Enerpac Tool Non-GAAP EPS of $0.36 in-line, revenue of $138M misses by $3.1M

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Enerpac Tool Group (NYSE:<a href="https://investorplace.com/stock-quotes/epac-stock-quote/">EPAC</a>) just reported results for the second quarter of 2024.<ul><li>Enerpac Tool Group reported earnings per share of 36 cents. This met the analyst estimate for EPS of 36 cents.</li><li>The company reported revenue of $138.44 million.</li><li>This was 1.89% worse than the analyst estimate for revenue of $141.10 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/03/epac-stock-earnings-enerpac-tool-group-for-q2-of-2024/">EPAC Stock Earnings: Enerpac Tool Group Meets EPS, Misses Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

EPAC Stock Earnings: Enerpac Tool Group Meets EPS, Misses Revenue for Q2 2024

Enerpac Tool Group Corp. (EPAC) Q2 2024 Earnings Call Transcript

Enerpac Tool Group Corp. 2024 Q2 - Results - Earnings Call Presentation

The 89 rating InvestorsObserver gives to Enerpac Tool Group Corp (EPAC)  stock puts it near the top of the Industrials sector.In addition to scoring higher than 73 percent of stocks in the Industrials sector, EPACâ€&#x2122;s 89 overall rating means the stock scores better than 89 of all stocks. EPAC has an Overall Score of 89. Find