Freedom Holding Stock (NASDAQ:FRHC), Trade Ideas

Freedom Holding

Freedom Holding Corp is engaged in a broad range of activities in the securities industry, including retail securities brokerage, research, investment counseling, securities trading, market making, corporate investment banking, and underwriting services in Eurasia. It acts as a professional participant through its subsidiaries on the Kazakhstan Stock Exchange (KASE), Moscow Exchange (MOEX), Saint-Petersburg Exchange (SPB), the Ukrainian Exchange, the Uzbek Republican Currency Exchange (UZCE), and the Republican Stock Exchange of Tashkent (UZSE). Its geographical segments are Central Asia, Europe, the United States, and the Middle East/Caucasus, of which Europe accounts for the majority of its revenue.

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According to a report from Kursiv.media, the court of arbitration in the Nizhny Novgorod region has seized several properties and $21 million in cash belonging to Turlov and co-defendants. On March 13, the court issued a complaint against Turlov and other individuals who allegedly participated in asset withdrawal from Assotsiatsiya Bank.

Freedom Holding Stock Dips After CEO&#39;s Assets Seized By Russia

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Janet Yellen says the U.S. financial system is overall sound and well-capitalized.

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U.S. stocks traded mixed, with the Dow Jones gaining around 80 points on Friday.

Booz Allen Hamilton Posts Upbeat Results, Joins AppFolio, Gentex And Other Big Stocks Moving Higher On Friday

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JAKKS Pacific shares are trading lower after the company reported worse-thane-expected Q1 adjusted EPS results.

JP Morgan analyst Richard Shane maintains SLM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLM#NASDAQ">SLM</a>) with a Neutral and raises the price target from $22 to $23.

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JP Morgan Maintains Neutral on SLM, Raises Price Target to $23

On Thursday, US drug maker&nbsp;Merck&nbsp;&amp; Co Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) reported first-quarter sales of $15.8 billion, up 9% year-over-year, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus estimate of $15.2 billion</a>.
Excluding the impact of foreign exchange, sales increased 24%.
Merck reported adjusted EPS of $2.07, up 48%Y/Y, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38425080/merck-announces-first-quarter-2024-financial-results" rel="noreferrer noopener">consensus of $1.88</a>.
Merck&#8217;s pharmaceutical unit booked&nbsp;$14.01 billion&nbsp;in revenue during the first quarter, up 10% Y/Y.
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/03/37958211/mercks-11b-bet-pays-as-fda-approves-sotatercept-for-rare-lung-disease" rel="noreferrer noopener">Merck&#8217;s $11B Bet Pays As FDA Approves Sotatercept For Rare Lung Disease</a>.
Merck&#8217;s blockbuster cancer immunotherapy Keytruda largely drove the growth. Keytruda generated&nbsp;$6.95 billion&nbsp;in revenue during the quarter, up 20% from the year-earlier period.&nbsp;
Merck has become dependent on Keytruda for more than 40% of company&nbsp;sales&nbsp;and faces a revenue hit when&nbsp;Keytruda&#8217;s&nbsp;main U.S. patent expires in 2028.
Merck also reported a 14% jump in sales of Gardasil to $2.25 billion, a vaccine that prevents cancer from HPV, the most common sexually transmitted infection in the U.S.
Merck&#8217;s Januvia drew&nbsp;$670 million&nbsp;in sales, down 24%, primarily due to lower drug pricing, falling demand in the U.S., and generic competition in several international markets.
Januvia is one of 10 drugs targeted in ongoing&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/08/34087337/biden-targets-cancer-diabetes-drugs-in-controversial-medicare-price-battle-wants-to-cut-billions-" rel="noreferrer noopener">Medicare drug price negotiations</a>.
Guidance:&nbsp;Merck raised and narrowed its full-year 2024 revenue and adjusted earnings forecasts.&nbsp;
The company now expects 2024 sales of $63.1 billion-$64.3 billion,&nbsp;up&nbsp;from previous guidance of $62.7 to $64.2 billion compared to the consensus of&nbsp;$63.82 billion.
The company expects 2024 adjusted EPS of&nbsp;$8.53-$8.65, compared to prior&nbsp;guidance&nbsp;of&nbsp;$8.44-$8.59&nbsp;and the consensus of&nbsp;$8.56.
That outlook includes a one-time charge of roughly&nbsp;26 cents per share&nbsp;related to Merck&#8217;s&nbsp;acquisition&nbsp;of&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/01/36535176/today-is-cancer-focused-deals-day-johnson-johnson-scoops-up-ambrx-biopharma-as-merck-boosts-cance" rel="noreferrer noopener">Harpoon Therapeutics in January</a>. The guidance also includes a negative impact of&nbsp;30 cents per share&nbsp;from foreign exchange changes.&nbsp;
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37966217/the-most-important-catalyst-for-mercks-stock-in-2024-could-be-sotatercept-launch-an" rel="noreferrer noopener">The Most Important Catalyst For Merck&#8217;s Stock In 2024 Could Be Sotatercept Launch, Analyst Says</a>.
Price Action: MRK shares are up 2.26% at $129.88 at the last check Thursday.
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Merck Stock Gains On Its Blockbuster Cancer Drug Keytruda, Raises Annual Outlook

BMO Capital analyst Keith Bachman maintains IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) with a Market Perform and lowers the price target from $210 to $190.

BMO Capital Maintains Market Perform on IBM, Lowers Price Target to $190

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TikTok Owner ByteDance To Prefer Shutting Down Of Loss-making App Rather Than A Sale If Exhausts All Legal Options; Algorithms TikTok Relies On Deemed Core To ByteDance Overall Operations, Making Sale Of App Unlikely, Sources Say

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SuperCom shares are trading higher after the company announced it received over $5 million in New Orders from European governments.

BMO Capital analyst Keith Bachman maintains ServiceNow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) with a Outperform and lowers the price target from $850 to $830.

BMO Capital Maintains Outperform on ServiceNow, Lowers Price Target to $830

RBC Capital analyst Brad Erickson maintains Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) with a Outperform and lowers the price target from $600 to $570.

RBC Capital Maintains Outperform on Meta Platforms, Lowers Price Target to $570

JP Morgan analyst Stephen Tusa maintains Otis Worldwide (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OTIS#NYSE">OTIS</a>) with a Neutral and raises the price target from $104 to $105.

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JP Morgan Maintains Neutral on Otis Worldwide, Raises Price Target to $105

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Predictive Oncology shares are trading higher after the company announced that it entered into a collaboration and co-marketing agreement with FUJIFILM Wako Chemicals U.S.A. to reduce protein interference in bacterial endotoxin testing of biopharmaceutical products.

JP Morgan analyst Stephen Tusa maintains Lennox Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LII#NYSE">LII</a>) with a Underweight and raises the price target from $350 to $360.

JP Morgan Maintains Underweight on Lennox Intl, Raises Price Target to $360

<a href="https://www.reuters.com/markets/deals/anglo-american-does-not-find-bhp-39-bln-offer-attractive-sources-say-2024-04-25/#:~:text=LONDON%2C%20April%2025%20(Reuters),investors%20dismissed%20it%20as%20opportunistic.">https://www.reuters.com/markets/deals/anglo-american-does-not-find-bhp-39-bln-offer-attractive-sources-say-2024-04-25/#:~:text=LONDON%2C%20April%2025%20(Reuters),investors%20dismissed%20it%20as%20opportunistic.</a>
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Anglo American does not consider a proposed $39 billion takeover offer from BHP Group as attractive, two sources told Reuters, as some large investors dismissed it as opportunistic.
BHP on Thursday offered <a href="https://www.reuters.com/markets/deals/bhp-considering-potential-buyout-offer-anglo-american-bloomberg-reports-2024-04-24/">Anglo's shareholders</a> 25.08 pounds ($31.39) per share, or $38.8 billion, a premium of 31% to the market close on Wednesday. It would take over Anglo after a spin-off of two assets.
Speaking on condition of anonymity because the matter is private, one of the sources said the offer did not address the complexities of demerging the Anglo American Platinum and Kumba Iron Ore businesses in South Africa.
BHP has until May 22 to come back with a binding bid, but Anglo's board will give a formal response in the coming days.
For now, Anglo, which has a market value of $36.7 billion, said it would be reviewing the offer, without elaborating.
The proposed tie-up would create a group with around one tenth of the global output of copper, which is in demand for its use in electric vehicles and new technologies, such as automation and artificial intelligence.
BHP has made the offer as the company continues a strategic <a href="https://www.reuters.com/markets/commodities/anglo-american-full-year-profit-plunges-by-94-2024-02-22/">review</a> of its assets started in February in response to a 94% fall in annual profit and a series of writedowns caused by to lower commodity demand.
One of the source said Anglo American's management was continuing "full steam ahead" with the review.

"Anglo American Does Not Find BHP $39B Offer Attractive, Sources Say" - Reuters News

RBC Capital analyst Arun Viswanathan maintains Sherwin-Williams (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>) with a Outperform and lowers the price target from $380 to $370.

RBC Capital Maintains Outperform on Sherwin-Williams, Lowers Price Target to $370

Thursday,&nbsp;Bristol Myers Squibb &amp; Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) posted first-quarter revenues of $11.9 billion, beating the consensus of $11.5 billion, an increase of 5% year-over-year, or 6% when adjusted for foreign exchange impacts, primarily driven by Eliquis,&nbsp;Reblozyl, and Opdualag,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38426021/bristol-myers-squibb-reports-first-quarter-financial-results-for-2024" rel="noreferrer noopener">partially offset by Opdivo and Revlimid</a>.
Growth Portfolio worldwide revenues increased to&nbsp;$4.8 billion, up 8% or 11% when adjusted for foreign exchange impacts.&nbsp;
This increase was primarily driven by higher demand for&nbsp;Reblozyl, Opdualag, Yervoy, Camzyos,&nbsp;and&nbsp;Sotyktu,&nbsp;partially offset by&nbsp;Opdivo&nbsp;and&nbsp;Abecma.
Revenues for the Legacy Portfolio in the first quarter were&nbsp;$7.1 billion, primarily driven by a 9% increase in&nbsp;Eliquis&nbsp;worldwide revenues on a reported basis and, when adjusted for foreign exchange impacts, partially offset by a decline in&nbsp;Revlimid&nbsp;worldwide revenues of 5%, or 4%.
The company reported an adjusted EPS loss of $(4.40), compared to an income of&nbsp;$2.05 a year&nbsp;ago, beating the consensus loss of $(4.44).
Also&nbsp;Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38143938/bristol-myers-14b-bet-on-schizophrenia-drug-cuts-symptoms-without-common-side-effect-of-weight-ga" rel="noreferrer noopener">Bristol Myers&#8217; $14B Bet On Schizophrenia &#8211; Drug Cuts Symptoms Without Common Side Effect Of Weight Gain Associated With Other&nbsp;Antipsychotics</a>
Bristol Myers Squibb also said it is executing a productivity initiative to drive approximately&nbsp;$1.5 billion&nbsp;in cost savings by the end of 2025.&nbsp;
The WSJ noted that Bristol Myers Squibb will shed 2,200 employees as a part of the cost-cutting program.
William Blair&nbsp;says Reblozyl stood out among new product launches in the quarter, generating $354 million in sales, slightly exceeding their estimated $349 million.&nbsp;
However, investors are primarily concerned about the overall performance of the new product portfolio, which fell short of expectations.
The analyst suggests that revealing the favorable Phase II outcomes of Opdualag in non-small-cell lung cancer could signify a significant shift in the storyline. The press release highlights the commencement of the Phase 3 trial in a crucial&nbsp;sector of the disease&nbsp;in 2024.
Guidance:&nbsp;Bristol Myers Squibb revises 2024 adjusted EPS guidance from $7.10-$7.40 to $0.40-$0.70 versus consensus of $0.66, reflecting the impact of recent transactions.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38114915/fda-approves-bristol-myers2seventy-bios-abecma-for-earlier-use-in-pretreated-blood-cancer-patient" rel="noreferrer noopener">FDA Approves Bristol-Myers/2seventy Bio&#8217;s Abecma For Earlier Use In Pretreated Blood Cancer Patients With Updated Boxed Warning On Secondary Cancer</a>.
Price Action: BMY shares are down 8.12% at $44.90 at the last check Thursday.
Photo via Shutterstock

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Bristol Myers Squibb Swings To Quarterly Loss, After String Of Multi-Billion Acquisitions

JP Morgan analyst Harlan Sur maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Overweight and raises the price target from $900 to $950.

LRCX

JP Morgan Maintains Overweight on Lam Research, Raises Price Target to $950

Northrop Grumman Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) reported&nbsp;first-quarter fiscal 2024&nbsp;sales growth of 9% year-over-year to $10.133 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38425743/northrop-grumman-releases-first-quarter-2024-financial-results" rel="noreferrer noopener">beating the consensus of $9.771 billion.</a>
First-quarter EPS was $6.32 compared to $5.50 a year ago,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of $5.74.</a>
&#8220;Robust global defense spending and our strong backlog, along with expanding margins, continue to support our multi-year outlook for free cash flow growth,&#8221; commented Kathy Warden, chair, chief executive officer, and president.
Sales by segments: Aeronautics Systems $2.97 billion (+18% Y/Y), Defense Systems $1.41 billion (+3% Y/Y), Mission Systems $2.66 billion (+4% Y/Y), and Space Systems $3.65 billion (+9% Y/Y).
Segment operating income rose 10% Y/Y to $1.1 billion, and margin expanded by&nbsp;10&nbsp;bps to 10.9%. Total operating margin expanded by 40 bps to 10.6%.
NOC&#8217;s first-quarter net awards totaled $6.5 billion, and its backlog totaled $78.9 billion. Significant&nbsp;first quarter&nbsp;new awards include $3.1 billion for restricted programs.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/04/38321271/northrop-grumman-and-elon-musks-spacex-forge-alliance-for-us-spy-satellite-initiative" rel="noreferrer noopener">Northrop Grumman And Elon Musk&#8217;s SpaceX Forge Alliance for US Spy Satellite Initiative</a>
The company&#8217;s operating cash used in operating activities for the quarter totaled $(706) million (-1% Y/Y), and free cash outflow stood at $(976) million (+3% Y/Y).
Northrop Grumman returned $1.5 billion to investors via dividends and share repurchases and expects greater than $2 billion in 2024 share repurchases.&nbsp;&nbsp;
Fiscal 2024 Outlook, reaffirmed:&nbsp;Northrop Grumman sees sales of $40.8 billion – $41.2 billion versus the consensus of $41.11 billion; The company sees MTM-adjusted EPS of $24.45-$24.85 (consensus $24.65).
It sees Segment operating income of $4.475 billion-$4.55 billion and an adjusted free cash flow of $2.25 billion-$2.65 billion for 2024.
Price Action: NOC shares traded higher by 1.56% at $481.98 at the last check Thursday.
Photo via Wikimedia Commons

Equities

Northrop Grumman Reaffirms 2024 Guidance Post Double-Digit Earnings Growth In Q1: Details

RBC Capital analyst Jon Arfstrom maintains SLM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLM#NASDAQ">SLM</a>) with a Outperform and raises the price target from $24 to $25.

RBC Capital Maintains Outperform on SLM, Raises Price Target to $25

Shares of Strategic Education Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRA#NASDAQ">STRA</a>) are trading higher after the company reported first-quarter 2024 sales growth of 13.1% year-on-year to $290.3 million, <a href="https://www.benzinga.com/pressreleases/24/04/b38425092/strategic-education-inc-reports-first-quarter-2024-results">beating the analyst's consensus estimate of $273.635 million.</a>
Total costs and expenses fell 3.6% year-over-year to $248.9 million.
The operating margin was 14.2%, and operating income for the quarter was $41.4 million compared to an operating loss of $1.3 million last year. Adjusted operating income margin expanded 920 basis points to 13.9%.
Adjusted EBITDA was $54.3 million versus $27.2 million last year.
Adjusted EPS of $1.11 <a href="https://www.benzinga.com/calendars/earnings">beat the consensus</a> of $0.59.
The company held $222.1 million in cash and equivalents as of March 31, 2024. Cash provided by operating activities for the quarter totaled $35.2 million.
Strategic Education declared a regular quarterly cash dividend of $0.60 per share, payable on June 3, 2024 to shareholders of record as of May 24, 2024.
&#8220;The U.S. Higher Education segment delivered another quarter of strong growth driven by employer affiliated enrollment; the Education Technology Services segment continued to see strength, including from Sophia subscriptions; and the Australia/New Zealand segment returned to total enrollment growth,&#8221; said CEO Karl McDonnell.
Price Action: STRA shares are trading higher by 11.9% at $112.62 at the last check Thursday.
Image: Shutterstock

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Why Strategic Education Shares Are Soaring Today?

JP Morgan analyst Seth Seifman maintains General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) with a Overweight and raises the price target from $280 to $298.

JP Morgan Maintains Overweight on General Dynamics, Raises Price Target to $298

RBC Capital analyst Mike Dahl maintains Owens-Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) with a Outperform and raises the price target from $175 to $192.

RBC Capital Maintains Outperform on Owens-Corning, Raises Price Target to $192

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Freedom Holding: Business Keeps Growing

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Freedom Holding completes external review of Hindenburg report

The market has been down on Freedom Holding Corp (FRHC)  stock recently. FRHC gets a Bearish score from InvestorsObserver Stock Sentiment Indicator. Freedom Holding Corp has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on FRHC!See Full FRHC ReportWhat is Stock Sentiment?Sen

How Will the Market React to Freedom Holding Corp (FRHC) Stock Getting a Bearish Rating

Freedom Holding GAAP EPS of $1.63, revenue of $418.63M

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Press Releases

FRHC INVESTOR NEWS: ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Freedom Holding Corp. Investors With Losses to Inquire About Securities Class Action Investigation – FRHC

FRHC LOSS ALERT: ROSEN, A LEADING LAW FIRM, Encourages Freedom Holding Corp. Investors With Losses to Inquire About Securities Class Action Investigation – FRHC

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Freedom Holding Corp. - FRHC

FRHC INVESTOR NOTICE: ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages Freedom Holding Corp. Investors with Losses to Inquire About Securities Class Action Investigation - FRHC

Freedom Holding Corp. (FRHC) Shareholders: Contact Robbins LLP for Information About Our Investigation of Freedom Holding Corp.

Freedom Holding Corp. (FRHC) Investigation: Investors of FRHC Should Contact Robbins LLP for Information About Our Investigation

FREEDOM HOLDING ALERT: Bragar Eagel & Squire, P.C. is Investigating Freedom Holding Corp. on Behalf of Freedom Holding Stockholders and Encourages Investors to Contact the Firm

Freedom Holding Corp. Announces Completion of External Review of Allegations Made in Short-Seller Report

Freedom Holding Corp. Reports Third Quarter Fiscal Year 2024 Financial Results

Freedom Holding Corp. CEO, Timur Turlov, to Deliver Keynote Speech at LD Micro Inaugural New York Investor Conference

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Jefferies Financial Group Inc. Common Stock

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